A tight sufficient condition for Radner-Stiglitz nonconcavity in the value of information

Journal of Economic Theory

Volumn 137, Issue 1, 2007, Pages 696-708

  De Lara, Michel ^a   Gilotte, Laurent ^b  

^a UNIVERSITÉ PARIS EST   (France)

^b Centre International de Recherche sur lEnvironnement et le Developpement   (France)

Author keywords

Marginal value of information at the null; Radner Stiglitz nonconcavity; Value of information

Indexed keywords

EID: 36048940444     PISSN: 00220531     EISSN: 10957235     Source Type: Journal    
DOI: 10.1016/j.jet.2007.01.014     Document Type: Article

References (4)

1. Bertsekas D.P., and Shreve S.E. Stochastic Optimal Control: The Discrete-Time Case (1996), Athena Scientific, Belmont, MA
2. Chade H., and Schlee E.E. Another look at the Radner-Stiglitz nonconcavity in the value of information. J. Econ. Theory 107 (2002) 421-452
3. Halmos P.R. Measure Theory (1974), Springer, New York
4. Radner R., and Stiglitz J.E. A nonconcavity in the value of information. In: Boyer M., and Kihlstrom R.E. (Eds). Bayesian Models in Economic Theory (1984), Elsevier Science Publishers, Amsterdam 33-52 (Chapter 3)