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The value of information processing

Authors Wathieu, Luc
Issue Date 1995-11
Summary 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.
Language English
Format Working paper
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