haku: @journal_id 1464 / yhteensä: 220
viite: 178 / 220
Tekijä: | Tallon, J-M. |
Otsikko: | Asymmetric information, nonadditive expected utility, and the information revealed by prices: an example. |
Lehti: | International Economic Review
1998 : MAY, VOL. 39:2, p. 329-342 |
Asiasana: | |
Kieli: | eng |
Tiivistelmä: | The author develops a simple example of a model in which agents have asymmetric information, and preferences that are presented by a nonadditive expected utility function. The a priority uninformed agent, after observing the equilibrium price, has conditional beliefs that remain nonadditive. Then, even when the equilibrium price function is fully revealing, it may be worthwhile for an a priori uninformed agent to buy 'redundant' private information if he is more confident in that information than in that revealed by the price system. |
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