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Positive value of information in games

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Author Info

  • Bruno Bassan

    ()

  • Olivier Gossner

    ()

  • Marco Scarsini

    ()

  • Shmuel Zamir

    ()

Abstract

We exhibit a general class of interactive decision situations in which all the agents benefit from more information. This class includes as a special case the classical comparison of statistical experiments a la Blackwell.

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File URL: http://www.icer.it/docs/wp2003/Scarsini26-03.pdf
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Bibliographic Info

Paper provided by ICER - International Centre for Economic Research in its series ICER Working Papers - Applied Mathematics Series with number 26-2003.

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Length: 21 pages
Date of creation: Feb 2001
Date of revision: Jul 2003
Handle: RePEc:icr:wpmath:26-2003

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Related research

Keywords: Information structures; value of information; Pareto optima.;

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Kamien, Morton I. & Tauman, Yair & Zamir, Shmuel, 1990. "On the value of information in a strategic conflict," Games and Economic Behavior, Elsevier, vol. 2(2), pages 129-153, June.
  2. Kreps, David M & Porteus, Evan L, 1978. "Temporal Resolution of Uncertainty and Dynamic Choice Theory," Econometrica, Econometric Society, vol. 46(1), pages 185-200, January.
  3. Grant, S. & Polak, B. & Kajii, A., 1996. "Preference for Information," Papers 298, Australian National University - Department of Economics.
  4. Susan Athey & Jonathan Levin, 1998. "The Value of Information In Monotone Decision Problems," Working papers 98-24, Massachusetts Institute of Technology (MIT), Department of Economics.
  5. Nicola Persico, 2000. "Information Acquisition in Auctions," Econometrica, Econometric Society, vol. 68(1), pages 135-148, January.
  6. GOSSNER, Olivier, 1997. "Comparison of information structures," CORE Discussion Papers 1997091, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Sulganik, Eyal & Zilcha, Itzhak, 1997. "The value of information: The case of signal-dependent opportunity sets," Journal of Economic Dynamics and Control, Elsevier, vol. 21(10), pages 1615-1625, August.
  8. Neyman, Abraham, 1991. "The positive value of information," Games and Economic Behavior, Elsevier, vol. 3(3), pages 350-355, August.
  9. Hirshleifer, Jack, 1971. "The Private and Social Value of Information and the Reward to Inventive Activity," American Economic Review, American Economic Association, vol. 61(4), pages 561-74, September.
  10. Schlee, Edward, 1990. " The Value of Information in Anticipated Utility Theory," Journal of Risk and Uncertainty, Springer, vol. 3(1), pages 83-92, March.
  11. Grant, S & Kajii, A & Polak, B, 1997. "Intrinsic Preference for Information," Papers 323, Australian National University - Department of Economics.
  12. Mertens, J.-F., 1986. "Repeated games," CORE Discussion Papers 1986024, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  13. Aumann, Robert J. & Sorin, Sylvain, 1989. "Cooperation and bounded recall," Games and Economic Behavior, Elsevier, vol. 1(1), pages 5-39, March.
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Citations

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Cited by:
  1. Elie Appelbaum & Mark Melatos, 2014. "Option Values and the Choice of Trade Agreements," Working Papers 2014_1, York University, Department of Economics.
  2. L. Picci, 2007. "The Reputational Budget and its Uses," Working Papers 587, Dipartimento Scienze Economiche, Universita' di Bologna.
  3. Antonio Lijoi & Igor Prünster & Stephen G. Walker, 2004. "On consistency of nonparametric normal mixtures for Bayesian density estimation," ICER Working Papers - Applied Mathematics Series 23-2004, ICER - International Centre for Economic Research.
  4. Lehrer, Ehud & Rosenberg, Dinah & Shmaya, Eran, 2010. "Signaling and mediation in games with common interests," Games and Economic Behavior, Elsevier, vol. 68(2), pages 670-682, March.
  5. Heller, Yuval & Winter, Eyal, 2013. "Rule Rationality," MPRA Paper 48746, University Library of Munich, Germany.
  6. Taizhong Hu & Alfred Müller & Marco Scarsini, 2002. "Some Counterexamples in Positive Dependence," ICER Working Papers - Applied Mathematics Series 28-2003, ICER - International Centre for Economic Research, revised Jul 2003.
  7. Gossner, Olivier, 2010. "Ability and knowledge," Games and Economic Behavior, Elsevier, vol. 69(1), pages 95-106, May.
  8. Alfred Müller & Marco Scarsini, 2003. "Archimedean Copulae and Positive Dependence," ICER Working Papers - Applied Mathematics Series 25-2003, ICER - International Centre for Economic Research.
  9. Fujii, Tomoki & Ishikawa, Ryuichiro, 2012. "Quasi-option value under strategic interactions," Resource and Energy Economics, Elsevier, vol. 34(1), pages 36-54.
  10. repec:hal:journl:halshs-00390625 is not listed on IDEAS
  11. K.J.M. De Jaegher, 2012. "The value of private information in the physician-patient relationship: a gametheoretic account," Working Papers 12-23, Utrecht School of Economics.
  12. Antonio Lijoi & Igor Prünster & Stephen G. Walker, 2004. "On rates of convergence for posterior distributions in infinite–dimensional models," ICER Working Papers - Applied Mathematics Series 24-2004, ICER - International Centre for Economic Research.
  13. Antonio Lijoi & Igor Prünster & Stephen G. Walker, 2004. "Contributions to the understanding of Bayesian consistency," ICER Working Papers - Applied Mathematics Series 13-2004, ICER - International Centre for Economic Research.

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