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|a (JST)25146946
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|a eng
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|a Baker, Erin
|e verfasserin
|4 aut
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|a Increasing Risk and Increasing Informativeness: Equivalence Theorems
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|c 2006
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|a Text
|b txt
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|a When considering problems of sequential decision making under uncertainty, two of the most interesting questions are: How does the value of the optimal decision variable change with an increase in risk? How does the value of the optimal decision variable change with a more informative signal? In this paper, we show that if the payoff function is separable in the random variable, then one model can simultaneously answer both questions. This result holds for the reaction functions and equilibria of noncooperative games, as well as for single decision makers, with virtually no restrictions on the payoff functions. This is useful because otherwise it is very difficult to get at general results on the impact of learning. Furthermore, we clarify why the impacts of risk and a more informative signal are different when the payoff function is nonlinear in the random variable. It is because the directional impacts of informativeness are independent of risk attitude; the impacts of risk are not.
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|a Copyright 2006 INFORMS
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|a Decision analysis, theory: comparative statics of risk and learning
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|a Games, stochastic: impact of learning on equilibrium
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|a Natural resources, energy: climate change policy
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|a Decision Analysis
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|a Mathematics
|x Pure mathematics
|x Probability theory
|x Random variables
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|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial analysis
|x Risk management
|x Risk aversion
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|a Education
|x Formal education
|x Pedagogy
|x Foundations of education
|x Outcomes of education
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|a Economics
|x Economic disciplines
|x Information economics
|x Information economy
|x Information value
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|a Philosophy
|x Logic
|x Logical theorems
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|a Economics
|x Economic disciplines
|x Information economics
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|a Political science
|x Government
|x Public administration
|x Public policy
|x Environmental policy
|x Climate change policy
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|a Environmental studies
|x Environmental quality
|x Environmental degradation
|x Environmental pollution
|x Carbon dioxide emissions
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|a Environmental studies
|x Environmental sciences
|x Climate change
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|a Mathematics
|x Applied mathematics
|x Game theory
|x Game theory games
|x Economic games
|x Noncooperative games
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|a Mathematics
|x Pure mathematics
|x Probability theory
|x Random variables
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|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial analysis
|x Risk management
|x Risk aversion
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|a Education
|x Formal education
|x Pedagogy
|x Foundations of education
|x Outcomes of education
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650 |
|
4 |
|a Economics
|x Economic disciplines
|x Information economics
|x Information economy
|x Information value
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650 |
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|a Philosophy
|x Logic
|x Logical theorems
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650 |
|
4 |
|a Economics
|x Economic disciplines
|x Information economics
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650 |
|
4 |
|a Political science
|x Government
|x Public administration
|x Public policy
|x Environmental policy
|x Climate change policy
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650 |
|
4 |
|a Environmental studies
|x Environmental quality
|x Environmental degradation
|x Environmental pollution
|x Carbon dioxide emissions
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650 |
|
4 |
|a Environmental studies
|x Environmental sciences
|x Climate change
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|a Mathematics
|x Applied mathematics
|x Game theory
|x Game theory games
|x Economic games
|x Noncooperative games
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|a research-article
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|i Enthalten in
|t Operations Research
|d Institute for Operations Research and the Management Sciences, 1956
|g 54(2006), 1, Seite 26-36
|w (DE-627)320595005
|w (DE-600)2019440-7
|x 15265463
|7 nnns
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|g volume:54
|g year:2006
|g number:1
|g pages:26-36
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|u https://www.jstor.org/stable/25146946
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|d 54
|j 2006
|e 1
|h 26-36
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