Preference for Information

Simon Grant, B. Polak and Atsushi Kajii

Working Papers from Australian National University - Department of Economics

Abstract: What is the relationship between an agent's attitude towards information, and her attitude towards risk? if an agent always prefers more information does this imply that she obyes the independence axiom? We provide a substitution property on preferences that is equivalent to the agent (intrinsically) liking information in the absence of contingent choice.

Keywords: INFORMATION; RISK (search for similar items in EconPapers)
JEL-codes: D80 D82 D89 (search for similar items in EconPapers)
Pages: 43 pages
Date: 1996
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:aunaec:298

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