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Comparisons of Sequential Experiments for Additively Separable Problems

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  • Mark Whitmeyer
  • Cole Williams

Abstract

For three natural classes of dynamic decision problems; 1. additively separable problems, 2. discounted problems, and 3. discounted problems for a fixed discount factor; we provide necessary and sufficient conditions for one sequential experiment to dominate another in the sense that the dominant experiment is preferred to the other for any decision problem in the specified class. We use these results to study the timing of information arrival in additively separable problems.

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  • Mark Whitmeyer & Cole Williams, 2024. "Comparisons of Sequential Experiments for Additively Separable Problems," Papers 2405.13709, arXiv.org.
    • Handle: RePEc:arx:papers:2405.13709
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    References listed on IDEAS

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    4. de Oliveira, Henrique, 2018. "Blackwell's informativeness theorem using diagrams," Games and Economic Behavior, Elsevier, vol. 109(C), pages 126-131.
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