EconPapers    
Economics at your fingertips  
 

Asymmetric Information, Nonadditive Expected Utility, and the Information Revealed by Prices: An Example

Jean-Marc Tallon ()
Additional contact information
Jean-Marc Tallon: M.A.D. - UP1 - Université Panthéon-Sorbonne

Post-Print from HAL

Abstract: I develop a simple example of a model in which agents have asymmetric information, and preferences that are represented by a nonadditive expected utility function. The a priori uninformed agent, after observing the equilibrium price, has conditional beliefs that remain nonadditive. Then, even when the equilibrium price function is fully revealing (i.e., one-to-one), it may be worth-while for an a priori uninformed agent to buy `redundant' private information if he is more confident in that information than in that revealed by the price system.

Keywords: Nonadditive; Expected; Utility (search for similar items in EconPapers)
Date: 1998-05
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00502491
References: Add references at CitEc
Citations: View citations in EconPapers (14) Track citations by RSS feed

Published in International Economic Review, Wiley, 1998, 39 (2), pp.329-342

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00502491

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().

 
Page updated 2020-02-20
Handle: RePEc:hal:journl:halshs-00502491