The value of perfect information in nonl
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Edward E. Schlee
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Article
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1991
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Springer US
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English
โ 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