A normalized value for information purchases
نویسندگان
چکیده
منابع مشابه
A normalized value for information purchases
Consider agents who are heterogeneous in their preferences and wealth levels. These agents may acquire information prior to choosing an investment that has a property of no-arbitrage, and each piece of information bears a corresponding cost. We associate a numeric index to each information purchase (information-cost pair). This index describes the normalized value of the information purchase: i...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2017
ISSN: 0022-0531
DOI: 10.1016/j.jet.2017.05.007