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A Proof of Blackwell's Theorem

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  • Eduardo Perez

    (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique, CEPR - Center for Economic Policy Research)

Abstract

This note gives a new proof of Blackwell's celebrated result. The result is a bit stronger than the classical version since the action set and the prior are fixed, and only the utility of the decision maker varies. I show directly that a decision maker has access to a larger set of joint distributions over actions and states of the world if and only if her information improves in the garbling order.

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  • Eduardo Perez, 2017. "A Proof of Blackwell's Theorem," SciencePo Working papers Main hal-03393159, HAL.
    • Handle: RePEc:hal:spmain:hal-03393159
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03393159
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    References listed on IDEAS

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    1. Jean-Pierre Ponssard, 1975. "A Note on Information Value Theory for Experiments Defined Extensive Form," Management Science, INFORMS, vol. 22(4), pages 449-454, December.
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