Arbeitspapier
The appeal of information transactions
An information transaction entails the purchase of information. Formally, it consists of an information structure together with a price. We develop an index of the appeal of information transactions, which is derived as a dual to the agent's preferences for information. The index of information transactions has a simple analytic characterization in terms of the relative entropy from priors to posteriors, and it also connects naturally with a recent index of riskiness.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2012-13
- Klassifikation
-
Wirtschaft
Mathematical and Quantitative Methods: General
Index Numbers and Aggregation; Leading indicators
Microeconomics: General
Information, Knowledge, and Uncertainty: General
Criteria for Decision-Making under Risk and Uncertainty
Financial Economics: General
Portfolio Choice; Investment Decisions
- Thema
-
informativeness
information transactions
Kullback-Leibler divergence
relative entropy
decision under uncertainty
investment
Blackwell ordering
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cabrales, Antonio
Gossner, Olivier
Serrano, Roberto
- Ereignis
-
Veröffentlichung
- (wer)
-
Brown University, Department of Economics
- (wo)
-
Providence, RI
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Cabrales, Antonio
- Gossner, Olivier
- Serrano, Roberto
- Brown University, Department of Economics
Entstanden
- 2012
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