Preference for information and dynamic consistency

Simon Grant*, Atsushi Kajii, Ben Polak

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    13 Citations (Scopus)

    Abstract

    We provide necessary and sufficient conditions for a dynamically consistent agent always to prefer more informative signals (in single-agent problems). These conditions do not imply recursivity, reduction or independence. We provide a simple definition of dynamically consistent behavior, and we discuss whether an intrinsic information lover (say, an anxious person) is likely to be dynamically consistent.

    Original languageEnglish
    Pages (from-to)263-286
    Number of pages24
    JournalTheory and Decision
    Volume48
    Issue number3
    DOIs
    Publication statusPublished - 2000

    Fingerprint

    Dive into the research topics of 'Preference for information and dynamic consistency'. Together they form a unique fingerprint.

    Cite this