Information and $$\sigma $$ -algebras

Carlos Hervés-Beloso and Paulo Monteiro

Economic Theory, 2013, vol. 54, issue 2, 405-418

Abstract: In this work, we clarify the relationship between the information that an agent receives from a signal, from an experiment or from his own ability to determine the true state of nature that occurs and the information that an agent receives from a $$\sigma $$ -algebra. We show that, for countably generated $$\sigma $$ -algebras, the larger it is, the larger the information is. The same is true for general $$\sigma $$ -algebras after the removal of a negligible set of states. Copyright Springer-Verlag Berlin Heidelberg 2013

Keywords: Signals; Partitions; $$\sigma $$ -algebras; Measurability; Information models; C60; C70 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s00199-012-0723-1

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