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http://hdl.handle.net/1783.1/839
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| 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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| mktg95054.pdf | | 781Kb | Adobe PDF | View/Open |
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