On the sensitivity of the value of information to risk aversion in two-action decision problems

2013 ◽  
Vol 34 (1) ◽  
pp. 24-37 ◽  
Author(s):  
Zhengwei Sun ◽  
Ali E. Abbas
Keyword(s):  
Risk Aversion ◽  
Value Of Information ◽  
Decision Problems ◽  
Action Decision

Effects of Risk Aversion on the Value of Information in Two-Action Decision Problems

2013 ◽  
Vol 10 (3) ◽  
pp. 257-275 ◽  
Author(s):  
Ali E. Abbas ◽  
N. Onur Bakır ◽  
Georgia-Ann Klutke ◽  
Zhengwei Sun
Keyword(s):  
Risk Aversion ◽  
Value Of Information ◽  
Decision Problems ◽  
Action Decision

scholarly journals Dynamic consistency, valuable information and subjective beliefs

2021 ◽  
Author(s):  
Spyros Galanis
Keyword(s):  
Value Of Information ◽  
Single Agent ◽  
Bayesian Updating ◽  
Dynamic Consistency ◽  
Decision Problems ◽  
Backward Induction ◽  
Subjective Expected Utility ◽  
Trading Behavior ◽  
Subjective Beliefs ◽  
Convex Preferences

AbstractAmbiguity sensitive preferences must fail either Consequentialism or Dynamic Consistency (DC), two properties that are compatible with subjective expected utility and Bayesian updating, while forming the basis of backward induction and dynamic programming. We examine the connection between these properties in a general environment of convex preferences over monetary acts and find that, far from being incompatible, they are connected in an economically meaningful way. In single-agent decision problems, positive value of information characterises one direction of DC. We propose a weakening of DC and show that one direction is equivalent to weakly valuable information, whereas the other characterises the Bayesian updating of the subjective beliefs which are revealed by trading behavior.

Risk Aversion and the Value of Information

2000 ◽  
Vol 31 (4) ◽  
pp. 382 ◽  
Author(s):  
Louis Eeckhoudt ◽  
Philippe Godfroid
Keyword(s):  
Risk Aversion ◽  
Value Of Information

Risk Aversion and the Value of Information

2000 ◽  
Vol 31 (4) ◽  
pp. 382-388 ◽  
Author(s):  
Louis Eeckhoudt ◽  
Philippe Godfroid
Keyword(s):  
Risk Aversion ◽  
Value Of Information

scholarly journals Risk Aversion, the Value of Information, and Traffic Equilibrium

2012 ◽  
Vol 46 (1) ◽  
pp. 1-26 ◽  
Author(s):  
André de Palma ◽  
Robin Lindsey ◽  
Nathalie Picard
Keyword(s):  
Risk Aversion ◽  
Value Of Information ◽  
Traffic Equilibrium

Risk aversion and the value of information

1996 ◽  
Vol 16 (3) ◽  
pp. 241-254 ◽  
Author(s):  
Raja Nadiminti ◽  
Tridas Mukhopadhyay ◽  
Charles H. Kriebel
Keyword(s):  
Risk Aversion ◽  
Value Of Information

Bounds on the value of information in uncertain decision problems

Stochastics ◽  
1975 ◽  
Vol 1 (1-4) ◽  
pp. 361-378 ◽  
Author(s):  
W. T. Ziemba ◽  
J. E. Butterworth
Keyword(s):  
Value Of Information ◽  
Decision Problems

Risk Aversion and the Value of Information

1989 ◽  
Vol 56 (1) ◽  
pp. 104 ◽  
Author(s):  
Marc Willinger
Keyword(s):  
Risk Aversion ◽  
Value Of Information
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