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Comparisons of Sequential Experiments for Additively Separable Problems

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  • Mark Whitmeyer
  • Cole Williams

Abstract

For three natural classes of dynamic decision problems; 1. additively separable problems, 2. discounted problems, and 3. discounted problems for a fixed discount factor; we provide necessary and sufficient conditions for one sequential experiment to dominate another in the sense that the dominant experiment is preferred to the other for any decision problem in the specified class. We use these results to study the timing of information arrival in additively separable problems.

Suggested Citation

  • Mark Whitmeyer & Cole Williams, 2024. "Comparisons of Sequential Experiments for Additively Separable Problems," Papers 2405.13709, arXiv.org.
    • Handle: RePEc:arx:papers:2405.13709
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    References listed on IDEAS

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    1. Patrick DeJarnette & David Dillenberger & Daniel Gottlieb & Pietro Ortoleva, 2020. "Time Lotteries and Stochastic Impatience," Econometrica, Econometric Society, vol. 88(2), pages 619-656, March.
    2. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
    3. Harrell Chesson & W. Viscusi, 2003. "Commonalities in Time and Ambiguity Aversion for Long-Term Risks ," Theory and Decision, Springer, vol. 54(1), pages 57-71, February.
    4. M. Keith Chen, 2013. "The Effect of Language on Economic Behavior: Evidence from Savings Rates, Health Behaviors, and Retirement Assets," American Economic Review, American Economic Association, vol. 103(2), pages 690-731, April.
    5. de Oliveira, Henrique, 2018. "Blackwell's informativeness theorem using diagrams," Games and Economic Behavior, Elsevier, vol. 109(C), pages 126-131.
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    Cited by:

    1. Mark Whitmeyer & Cole Williams, 2024. "Strong Dominance for Dynamic Signals," Papers 2407.16648, arXiv.org, revised May 2026.

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