Information Source's Reliability

Gerard Mondello

No 2023-18, GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France

Abstract: This article studies the influence of the quality of information sources on the decisions of agents faced with radical uncertainty. It compares the decision-making process of expected utility maximizers and neo-additive Choquet utility maximizers. It shows that the first type of decision-maker will always prefer information provided by an unreliable source, even if its credibility is very low. The second type conditions its choice on its level of aversion to ambiguity, its degree of optimism and its level of confidence in the information source itself. Furthermore, the preferences may also be influenced by the information content.

Keywords: Uncertainty theory; decision theory; ambiguity aversion; information (search for similar items in EconPapers)
JEL-codes: D80 D81 D83 I10 I18 I19 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2023-12
New Economics Papers: this item is included in nep-eur, nep-mic and nep-upt
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Related works:
Working Paper: Information source’s reliability (2023)
Working Paper: Information Source's Reliability (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:gre:wpaper:2023-18

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