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The value of information with neo-additive beliefs

Author

Listed:
  • Pascal Toquebeuf

    (GAEL - Laboratoire d'Economie Appliquée = Grenoble Applied Economics Laboratory - UPMF - Université Pierre Mendès France - Grenoble 2 - INRA - Institut National de la Recherche Agronomique, UGA [2016-2019] - Université Grenoble Alpes [2016-2019])

Abstract

When individual beliefs are not Bayesian, economic agents may refuse further information about the uncertainty they are facing. Choquet decision makers in particular may be information averse. This note shows that, if the capacity is neo-additive, then the information value is necessarily positive.

Suggested Citation

  • Pascal Toquebeuf, 2013. "The value of information with neo-additive beliefs," Post-Print hal-01123000, HAL.
    • Handle: RePEc:hal:journl:hal-01123000
    as

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    References listed on IDEAS

    as
    1. Chateauneuf, Alain & Eichberger, Jurgen & Grant, Simon, 2007. "Choice under uncertainty with the best and worst in mind: Neo-additive capacities," Journal of Economic Theory, Elsevier, vol. 137(1), pages 538-567, November.
    2. Eichberger, Jurgen & Grant, Simon & Kelsey, David, 2007. "Updating Choquet beliefs," Journal of Mathematical Economics, Elsevier, vol. 43(7-8), pages 888-899, September.
    3. Eichberger, Jürgen & Grant, Simon & Kelsey, David, 2010. "Comparing three ways to update Choquet beliefs," Economics Letters, Elsevier, vol. 107(2), pages 91-94, May.
    4. Jean-Christophe Vergnaud, 2002. "Information and capacities," Statistical Papers, Springer, vol. 43(1), pages 111-125, January.
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    More about this item

    Keywords

    ambiguity; information value; choquet; capacity; neo-additive belief;
    All these keywords.

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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