Comparisons of Sequential Experiments for Additively Separable Problems

Mark Whitmeyer and Cole Williams

Papers from arXiv.org

Abstract: For three natural classes of dynamic decision problems; 1. additively separable problems, 2. discounted problems, and 3. discounted problems for a fixed discount factor; we provide necessary and sufficient conditions for one sequential experiment to dominate another in the sense that the dominant experiment is preferred to the other for any decision problem in the specified class. We use these results to study the timing of information arrival in additively separable problems.

Date: 2024-05
New Economics Papers: this item is included in nep-dcm, nep-exp, nep-mac and nep-mic
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