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Beyond the Blackwell order in dichotomies

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  • Kosenko, Andrew

Abstract

I establish a translation invariance property of the Blackwell order for dichotomies and show that the norm of the distance from the identity matrix may be interpreted as a measure of informativeness. The better experiment is closer to the fully revealing experiment; this measure extends the Blackwell order, is complete, and prior-independent.

Suggested Citation

  • Kosenko, Andrew, 2024. "Beyond the Blackwell order in dichotomies," Economics Letters, Elsevier, vol. 245(C).
    • Handle: RePEc:eee:ecolet:v:245:y:2024:i:c:s0165176524005263
    DOI: 10.1016/j.econlet.2024.112042
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    References listed on IDEAS

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    1. Penélope Hernández & Bernhard von Stengel, 2014. "Nash Codes for Noisy Channels," Operations Research, INFORMS, vol. 62(6), pages 1221-1235, December.
    2. Xiaosheng Mu & Luciano Pomatto & Philipp Strack & Omer Tamuz, 2021. "From Blackwell Dominance in Large Samples to Rényi Divergences and Back Again," Econometrica, Econometric Society, vol. 89(1), pages 475-506, January.
    3. Ben-Shahar, Danny & Sulganik, Eyal, 2024. "New characterization of Blackwell's order for subsets of information structures," Economics Letters, Elsevier, vol. 235(C).
    4. Keppo, Jussi & Moscarini, Giuseppe & Smith, Lones, 2008. "The demand for information: More heat than light," Journal of Economic Theory, Elsevier, vol. 138(1), pages 21-50, January.
    5. Wu, Wenhao, 2023. "A geometric Blackwell’s order," Economics Letters, Elsevier, vol. 226(C).
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    More about this item

    Keywords

    Blackwell experiments; Information orders;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools

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