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Monotone Preferences Over Information

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Author Info
Juan Dubra () (Universidad de Montevideo, Department of Economics)
Federico Echenique () (California Institute of Technology, Division of the Humanities and Social Sciences)

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Abstract

We consider preference relations over information that are monotone: more information is preferred to less. We prove that, if a preference relation on information about an uncountable set of states of nature is monotone, then it is not representable by a utility function.

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Paper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm405.

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Date of creation: 28 Jul 2004
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Handle: RePEc:ysm:somwrk:ysm405

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Find related papers by JEL classification:
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
G12 - Financial Economics - - General Financial Markets - - - Asset Pricing
C60 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - General

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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.:
  1. Nicola Persico, 1996. "Information Acquisition in Affiliated Decision Problems," Discussion Papers 1149, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  2. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March. [Downloadable!] (restricted)
  3. Juan Dubra & Efe A. Ok, 2002. "A Model of Procedural Decision Making in the Presence of Risk," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(4), pages 1053-1080, November. [Downloadable!] (restricted)
  4. Gould, John P., 1974. "Risk, stochastic preference, and the value of information," Journal of Economic Theory, Elsevier, vol. 8(1), pages 64-84, May. [Downloadable!] (restricted)
  5. 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.
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  6. Gilboa, Itzhak & Schmeidler, David, 1989. "Maxmin expected utility with non-unique prior," Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 141-153, April. [Downloadable!] (restricted)
  7. Beardon, Alan F. & Candeal, Juan C. & Herden, Gerhard & Indurain, Esteban & Mehta, Ghanshyam B., 2002. "The non-existence of a utility function and the structure of non-representable preference relations," Journal of Mathematical Economics, Elsevier, vol. 37(1), pages 17-38, February. [Downloadable!] (restricted)
  8. Allen, Beth, 1983. "Neighboring information and distributions of agents' characteristics under uncertainty," Journal of Mathematical Economics, Elsevier, vol. 12(1), pages 63-101, September. [Downloadable!] (restricted)
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  1. J. Alcantud & G. Bosi & M. Campión & J. Candeal & E. Induráin & C. Rodríguez-Palmero, 2008. "Continuous Utility Functions Through Scales," Theory and Decision, Springer, vol. 64(4), pages 479-494, June. [Downloadable!] (restricted)
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