메뉴 건너뛰기




Volumn 107, Issue 2, 2002, Pages 421-452

Another look at the Radner-Stiglitz nonconcavity in the value of information

Author keywords

Information acquisition; Radner Stiglitz non concavity; Value of information

Indexed keywords


EID: 0036921026     PISSN: 00220531     EISSN: None     Source Type: Journal    
DOI: 10.1006/jeth.2001.2960     Document Type: Article
Times cited : (48)

References (34)
  • 1
    • 84892198551 scopus 로고    scopus 로고
    • "Infinite Dimensional Analysis. A Hitchhiker's Guide"
    • Springer-Verlag, Heidelberg
    • C. Aliprantis and K. Border, "Infinite Dimensional Analysis. A Hitchhiker's Guide," Springer-Verlag, Heidelberg, 1999.
    • (1999)
    • Aliprantis, C.1    Border, K.2
  • 2
    • 85021297970 scopus 로고
    • Informational structure of the firm
    • K. Arrow, Informational structure of the firm, Amer. Econ. Rev. 75 (1985), 303-307.
    • (1985) Amer. Econ. Rev. , vol.75 , pp. 303-307
    • Arrow, K.1
  • 3
    • 0003923091 scopus 로고
    • "Stochastic Optimal Control: The Discrete-Time Case"
    • Athena Scientific, Belmont
    • D. Berstsekas and S. Shreve, "Stochastic Optimal Control: The Discrete-Time Case," Athena Scientific, Belmont, 1978.
    • (1978)
    • Berstsekas, D.1    Shreve, S.2
  • 4
    • 0004302610 scopus 로고
    • "Probability and Measure"
    • Wiley, New York
    • P. Billingsley, "Probability and Measure," Wiley, New York, 1986.
    • (1986)
    • Billingsley, P.1
  • 5
    • 0000006364 scopus 로고    scopus 로고
    • Strategic experimentation
    • P. Bolton and C. Harris, Strategic experimentation, Econometrica 67 (1999), 349-374.
    • (1999) Econometrica , vol.67 , pp. 349-374
    • Bolton, P.1    Harris, C.2
  • 6
    • 84925910319 scopus 로고
    • The value of information for crop forecasting in a market system: Some theoretical issues
    • D. Bradford and H. Kelejian, The value of information for crop forecasting in a market system: some theoretical issues, Rev. Econ. Stud. 44 (1977), 519-553.
    • (1977) Rev. Econ. Stud. , vol.44 , pp. 519-553
    • Bradford, D.1    Kelejian, H.2
  • 7
    • 0000691138 scopus 로고
    • Experimentation with heteroskedastic noise
    • A. Creane, Experimentation with heteroskedastic noise, Econ. Theory 4 (1994), 275-286.
    • (1994) Econ. Theory , vol.4 , pp. 275-286
    • Creane, A.1
  • 8
    • 0003737211 scopus 로고
    • "General Topology"
    • Springer-Verlag, New York
    • J. Dixmier, "General Topology," Springer-Verlag, New York, 1984.
    • (1984)
    • Dixmier, J.1
  • 9
    • 0003405645 scopus 로고
    • "Linear Operators. Part I: General Theory"
    • Wiley, New York
    • N. Dunford and J. Schwartz, "Linear Operators. Part I: General Theory," Wiley, New York, 1957.
    • (1957)
    • Dunford, N.1    Schwartz, J.2
  • 10
    • 0000264859 scopus 로고
    • Controlling a stochastic process with unknown parameters
    • D. Easley and N. Kiefer, Controlling a stochastic process with unknown parameters, Econometrica 56 (1988), 1045-1064.
    • (1988) Econometrica , vol.56 , pp. 1045-1064
    • Easley, D.1    Kiefer, N.2
  • 11
    • 0001894214 scopus 로고
    • Risk aversion and information demand
    • (M. Boyer and R. Kihlstrom, Eds.) Elsevier, Amsterdam
    • X. Freixas and R. Kihlstrom, Risk aversion and information demand, in "Bayesian Models of Economic Theory" (M. Boyer and R. Kihlstrom, Eds.), pp. 93-104, Elsevier, Amsterdam, 1984.
    • (1984) "Bayesian Models of Economic Theory" , pp. 93-104
    • Freixas, X.1    Kihlstrom, R.2
  • 12
    • 84925907691 scopus 로고
    • A Bayesian approach to the production of information and learning by doing
    • S. Grossman, R. Kihlstrom, and L. Mirman, A Bayesian approach to the production of information and learning by doing, Rev. Econ. Stud. 44 (1977), 533-547.
    • (1977) Rev. Econ. Stud. , vol.44 , pp. 533-547
    • Grossman, S.1    Kihlstrom, R.2    Mirman, L.3
  • 13
    • 0012156606 scopus 로고    scopus 로고
    • "Measure Theory"
    • Springer-Verlag, New York
    • P. Halmos, "Measure Theory," Springer-Verlag, New York, 1974.
    • Halmos, P.1
  • 14
    • 0000365135 scopus 로고
    • Experimentation and learning in a differentiated-products duopoly
    • J. Harrington, Experimentation and learning in a differentiated-products duopoly, J. Econ. Theory 66 (1995), 275-288.
    • (1995) J. Econ. Theory , vol.66 , pp. 275-288
    • Harrington, J.1
  • 15
    • 0001561085 scopus 로고
    • Optimal control of an unknown linear process with learning
    • N. Kiefer and Y. Nyarko, Optimal control of an unknown linear process with learning, Int. Econ. Rev. 30 (1989), 571-586.
    • (1989) Int. Econ. Rev. , vol.30 , pp. 571-586
    • Kiefer, N.1    Nyarko, Y.2
  • 16
    • 0001796599 scopus 로고
    • A Bayesian model of demand for information about product quality
    • R. Kihlstrom, A Bayesian model of demand for information about product quality, Int. Econ. Rev. 15 (1974), 99-118.
    • (1974) Int. Econ. Rev. , vol.15 , pp. 99-118
    • Kihlstrom, R.1
  • 17
    • 0012280676 scopus 로고
    • A general theory of demand for information about product quality
    • R. Kihlstrom, A general theory of demand for information about product quality, J. Econ. Theory 8 (1974), 413-439.
    • (1974) J. Econ. Theory , vol.8 , pp. 413-439
    • Kihlstrom, R.1
  • 18
    • 0003308451 scopus 로고
    • Experimental consumption and the Rothschild effect
    • (M. Boyer and R. Kihlstrom, Eds.) Elsevier, Amsterdam
    • R. Kihlstrom, L. Mirman, and A. Postlewaite, Experimental consumption and the Rothschild effect, in "Bayesian Models of Economic Theory" (M. Boyer and R. Kihlstrom, Eds.), pp. 279-302, Elsevier, Amsterdam, 1984.
    • (1984) "Bayesian Models of Economic Theory" , pp. 279-302
    • Kihlstrom, R.1    Mirman, L.2    Postlewaite, A.3
  • 19
    • 0000678232 scopus 로고
    • On the welfare analysis of rational expectations equilibria with asymmetric information
    • J. Laffont, On the welfare analysis of rational expectations equilibria with asymmetric information, Econometrica 53 (1985), 1-29.
    • (1985) Econometrica , vol.53 , pp. 1-29
    • Laffont, J.1
  • 20
    • 0001566354 scopus 로고
    • Sappington, Supplying information to facilitate price discrimination
    • T. Lewis and D. Sappington, Supplying information to facilitate price discrimination, Int. Econ. Rev. 35 (1994), 309-325.
    • (1994) Int. Econ. Rev. , vol.35 , pp. 309-325
    • Lewis, T.1    Sappington, D.2
  • 21
    • 0000912756 scopus 로고
    • Price dispersion and incomplete learning in the long run
    • A. McLennan, Price dispersion and incomplete learning in the long run, J. Econ. Dynam. Control 7 (1984), 331-347.
    • (1984) J. Econ. Dynam. Control , vol.7 , pp. 331-347
    • McLennan, A.1
  • 22
    • 0001303830 scopus 로고
    • Strategic information manipulation in duopolies
    • L. Mirman, L. Samuelson, and E. Schlee, Strategic information manipulation in duopolies, J. Econ. Theory 62 (1994), 363-384.
    • (1994) J. Econ. Theory , vol.62 , pp. 363-384
    • Mirman, L.1    Samuelson, L.2    Schlee, E.3
  • 24
    • 0001481924 scopus 로고    scopus 로고
    • Wald revisited: The optimal level of experimentation
    • G. Moscarini and L. Smith, Wald revisited: the optimal level of experimentation, Econometrica 69 (2001), 1629-1644.
    • (2001) Econometrica , vol.69 , pp. 1629-1644
    • Moscarini, G.1    Smith, L.2
  • 25
    • 85031243288 scopus 로고    scopus 로고
    • The law of large demand for information
    • in press
    • G. Moscarini and L. Smith, The law of large demand for information, Econometrica, in press.
    • Econometrica
    • Moscarini, G.1    Smith, L.2
  • 26
    • 0012323724 scopus 로고
    • Uncertainty and general equilibrium
    • (J. Eatwell, M. Milgate, and P. Newman, Eds.) Norton, New York
    • R. Radner, Uncertainty and general equilibrium, in "The New Palgrave: General Equilibrium" (J. Eatwell, M. Milgate, and P. Newman, Eds.), pp. 305-323, Norton, New York, 1989.
    • (1989) "The New Palgrave: General Equilibrium" , pp. 305-323
    • Radner, R.1
  • 27
    • 0003029778 scopus 로고
    • A nonconcavity in the value of information
    • (M. Boyer and R. Kihlstrom, Eds.) Elsevier, Amsterdam
    • R. Radner and J. Stiglitz, A nonconcavity in the value of information, in "Bayesian Models of Economic Theory" (M. Boyer and R. Kihlstrom, Eds.), pp. 33-52, Elsevier, Amsterdam, 1984.
    • (1984) "Bayesian Models of Economic Theory" , pp. 33-52
    • Radner, R.1    Stiglitz, J.2
  • 28
    • 85031245398 scopus 로고
    • "Real Analysis"
    • Macmillan, New York
    • H. Royden, "Real Analysis," Macmillan, New York, 1988.
    • (1988)
    • Royden, H.1
  • 29
    • 84928224498 scopus 로고
    • Monitoring and hierarchies: The marginal value of information in a principal-agent model
    • N. Singh, Monitoring and hierarchies: the marginal value of information in a principal-agent model, J. Polit. Econ. 93 (1985), 599-609.
    • (1985) J. Polit. Econ. , vol.93 , pp. 599-609
    • Singh, N.1
  • 30
    • 0039842605 scopus 로고    scopus 로고
    • The contributions of the economics of information to twentieth century economics
    • J. Stiglitz, The contributions of the economics of information to twentieth century economics, Quart. J. Econ. 115 (2000), 1441-1478.
    • (2000) Quart. J. Econ. , vol.115 , pp. 1441-1478
    • Stiglitz, J.1
  • 31
    • 0003538072 scopus 로고
    • "Recursive Methods in Economic Dynamics"
    • Harvard University Press, Cambridge
    • N. Stokey, R. Lucas, and E. Prescott, "Recursive Methods in Economic Dynamics," Harvard University Press, Cambridge, 1989.
    • (1989)
    • Stokey, N.1    Lucas, R.2    Prescott, E.3
  • 32
    • 0012228396 scopus 로고
    • Bayesian learning and the optimal investment decision of the firm
    • I. Tonks, Bayesian learning and the optimal investment decision of the firm, Econ. J. 93 (1983), 86-97.
    • (1983) Econ. J. , vol.93 , pp. 86-97
    • Tonks, I.1
  • 33
    • 0000032164 scopus 로고
    • The ignorant monopolist: Optimal learning with endogenous information
    • D. Trefler, The ignorant monopolist: optimal learning with endogenous information, Int. Econ. Rev. 34 (1993), 565-581.
    • (1993) Int. Econ. Rev. , vol.34 , pp. 565-581
    • Trefler, D.1
  • 34
    • 0000288424 scopus 로고
    • Informational economies of scale
    • R. Wilson, Informational economies of scale, Bell J. Econ. 6 (1975), 184-195.
    • (1975) Bell J. Econ. , vol.6 , pp. 184-195
    • Wilson, R.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.