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Please use this identifier to cite or link to this item: http://hdl.handle.net/1783.1/839
Title: The value of information processing
Authors: Wathieu, Luc
Keywords: Value of information
Independence axiom
Dynamic choice
Information decentralization
Issue Date: Nov-1995
Series/Report no.: Marketing Working Paper Series ; MKTG 95.054
Abstract: Recent literature insists that violations of the independence axiom lead decision makers to reject new and free information. This paper argues that such a result ignores the possibility of decentralizing information. Under information decentralization, it becomes conceivable to separate information perception from information processing. Non-expected utility decision makers would indeed desire to postpone information perception. However, information processing remains a good. Refusal of new information corresponds to a commitment that nonlinear utility per se does not imply, unless information processing and perception are compulsorily tied together.
URI: http://hdl.handle.net/1783.1/839
Appears in Collections:MARK Working Papers

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