Information is not about measurability

نویسندگان

  • Juan Dubra
  • Federico Echenique
چکیده

We present a simple example where the use of σ-algebras as a model of information leads to a paradoxical conclusion: a decision maker prefers less information to more. We then explain that the problem arises because the use of σ-algebras as the informational content of a signal is inadequate. We provide a characterization of the different models of information in the literature in terms of Blackwell’s Theorem. JEL Classification: C60, C70, G12

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عنوان ژورنال:
  • Mathematical Social Sciences

دوره 47  شماره 

صفحات  -

تاریخ انتشار 2004