haku: @author Marshall, R. M. / yhteensä: 2
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| Tekijä: | Marshall, R. M. Narasimhan, R. |
| Otsikko: | Risk-constrained information choice. |
| Lehti: | Decision Sciences
1989 : FALL, VOL. 20:4, p. 677-684 |
| Asiasana: | INFORMATION ECONOMICS PROBABILITY ECONOMIC MODELS OPTIMIZATION |
| Kieli: | eng |
| Tiivistelmä: | Ahituv and Wand (1984) used an information economics model to analyze the problem of making information choices according to two decision criteria: expected (monetary) payoff and expected risk. Their solution randomizes the use of information, so it is undominated only if the expected payoff/expected risk trade-off boundary is convex. The authors propose another solution, randomizing the choice of information. The new solution is always undominated. |
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