What is the relationship between an agent's attitude towards information, and her attitude towards risk? if an agent always prefers more information does this imply that she obyes the independence axiom? We provide a substitution property on preferences that is equivalent to the agent (intrinsically) liking information in the absence of contingent choice.
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Paper provided by Australian National University - Department of Economics in its series Papers with number
298.
Length: 43 pages Date of creation: 1996 Date of revision: Handle: RePEc:fth:aunaec:298
Contact details of provider: Postal: THE AUSTRALIAN NATIONAL UNIVERSITY, DEPARTMENT OF ECONOMICS, RESEARCH SCHOOL of PACIFIC STUDIES, RESEARCH SCHOOL OF SOCIAL SCIENCES, G.P.O. 4, CANBERRA ACT 2601 AUSTRALIA..O. BOX 4 CANBERRA 2601 AUSTRALIA. Web page: http://economics.anu.edu.au/economics.htm More information through EDIRC
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Find related papers by JEL classification: D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
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Bruno Bassan & Olivier Gossner & Marco Scarsini & Shmuel Zamir, 2001.
"Positive value of information in games,"
Discussion Paper Series
dp294, Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem, revised Jul 2002.
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