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 language | English |
|---|---|
| Pages (from-to) | 263-286 |
| Number of pages | 24 |
| Journal | Theory and Decision |
| Volume | 48 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 2000 |