Intrinsic Preference for Information
AbstractSuppose, following Kreps & Porteus (1978), that an agent values information not only to make contingent plans but also for itself; that is, intrinsically. What, then, 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 obeys the independence axiom?
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Bibliographic InfoPaper provided by Australian National University - Department of Economics in its series Papers with number 323.
Length: 26 pages
Date of creation: 1997
Date of revision:
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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
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- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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