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The value of information with neo-additive beliefs

Author

Listed:
  • Pascal Toquebeuf

    (GAEL, University of Grenoble Alpes)

Abstract

When individual beliefs are not Bayesian, economic agents may refuse further information about the uncertainty they are facing. Choquet decision makers in particular may be information averse. This note shows that, if the capacity is neo-additive, then the information value is necessarily positive.

Suggested Citation

  • Pascal Toquebeuf, 2013. "The value of information with neo-additive beliefs," Economics Bulletin, AccessEcon, vol. 33(3), pages 2402-2406.
    • Handle: RePEc:ebl:ecbull:eb-13-00509
    as

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    References listed on IDEAS

    as
    1. Jean-Christophe Vergnaud, 2002. "Information and capacities," Statistical Papers, Springer, vol. 43(1), pages 111-125, January.
    2. Chateauneuf, Alain & Eichberger, Jurgen & Grant, Simon, 2007. "Choice under uncertainty with the best and worst in mind: Neo-additive capacities," Journal of Economic Theory, Elsevier, vol. 137(1), pages 538-567, November.
    3. Eichberger, Jurgen & Grant, Simon & Kelsey, David, 2007. "Updating Choquet beliefs," Journal of Mathematical Economics, Elsevier, vol. 43(7-8), pages 888-899, September.
    4. Eichberger, Jürgen & Grant, Simon & Kelsey, David, 2010. "Comparing three ways to update Choquet beliefs," Economics Letters, Elsevier, vol. 107(2), pages 91-94, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Ambiguity; Information value; Choquet; Capacity; Neo-additive;
    All these keywords.

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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