Mixtures of mean-preserving contractions

Joseph Whitmeyer and Mark Whitmeyer

Journal of Mathematical Economics, 2021, vol. 94, issue C

Abstract: Given any purely atomic probability distribution with support on n points, P, any mean-preserving contraction (mpc) of P, Q, with support on m>n points is a mixture of mpcs of P, each with support on at most n points. We illustrate several applications of this result to Bayesian persuasion and information design.

Keywords: Mean-preserving contraction; Information design; Bayesian persuasion; Fusion of a probability distribution (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:94:y:2021:i:c:s0304406820301270

DOI: 10.1016/j.jmateco.2020.11.006

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