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Entropy and the value of information for investors: The prior-free implications

Ran I. Shorrer

Economics Letters, 2018, vol. 164, issue C, 62-64

Abstract: The partial order of prior-independent investment dominance (Cabrales et al., 2013) strictly extends Blackwell’s order over information structures. I provide a complete characterization for the case of two states and two signals.

Keywords: Informativeness; Information structures; Entropy; Decision under uncertainty; Investment; Blackwell ordering (search for similar items in EconPapers)
JEL-codes: C43 D14 D81 D83 G11 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:ecolet:v:164:y:2018:i:c:p:62-64