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Erratum: Ordinal Independence in Nonlinear Utility Theory

✍ Scribed by JERRY R. GREEN and BRUNO JULLIEN


Book ID
124631834
Publisher
Springer
Year
1989
Tongue
English
Weight
124 KB
Volume
2
Category
Article
ISSN
0895-5646

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The value of perfect information in nonl
✍ Edward E. Schlee πŸ“‚ Article πŸ“… 1991 πŸ› Springer US 🌐 English βš– 203 KB

Wakker (1988) has recently shown that, in contrast to an expected utility maximizer, the value of information will sometimes be negative for an agent who violates the independence axiom of expected utility theory. We demonstrate, however, that the value of perfect information will always be nonne