Information is not about measurability
نویسندگان
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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ورودعنوان ژورنال:
- Mathematical Social Sciences
دوره 47 شماره
صفحات -
تاریخ انتشار 2004