文章基本信息

标题：Informativeness of Experiments for MEU – A Recursive Definition
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作者：Daniel Heyen ; Boris R. Wiesenfarth
期刊名称：Discussion Paper Series / Universität Heidelberg, Department of Economics
出版年度：2014
出版社：Universität Heidelberg, Department of Economics
摘要：The well-known Blackwell's theorem states the equivalence of sta- tistical informativeness and economic valuableness. C.elen (2012) generalizes this theorem, which is well-known for subjective expected utility (seu), to maxmin expected utility (meu) preferences. We demonstrate that the under- lying definition of the value of information used in C. elen (2012) is in contradic- tion with the principle of recursively defined utility. As a consequence, C.elen's framework features dynamic inconsistency. Our main contribution consists in the definition of a value of information for meu preferences that is compatible with recursive utility and thus respects dynamic consiste
关键词：Value of information; Maxmin expected utility; Recursive utility