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Decision Making Under Risk and Uncertainty: New Models and Empirical Findings (Volume 22)
John . Ed(S): Geweke
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Description for Decision Making Under Risk and Uncertainty: New Models and Empirical Findings (Volume 22)
paperback. Editor(s): Geweke, John. Series: Theory and Decision Library B. Num Pages: 262 pages, biography. BIC Classification: KCA; KJT. Category: (P) Professional & Vocational. Dimension: 240 x 160 x 15. Weight in Grams: 445.
As desired, the infonnation demand correspondence is single valued at equilibrium prices. Hence no planner is needed to assign infonnation allocations to individuals. Proposition 4. For any given infonnation price system p E . P (F *), almost every a E A demands a unique combined infonnation structure (although traders may be indifferent among partial infonnation sales from different information allocations, etc. ). In particular, the aggregate excess demand correspondence for net combined infonnation trades is a continuous function. Proof Uniqueness fails only if an agent can obtain the same expected utility from two or more net combined infonnation allocations. ... Read more
As desired, the infonnation demand correspondence is single valued at equilibrium prices. Hence no planner is needed to assign infonnation allocations to individuals. Proposition 4. For any given infonnation price system p E . P (F *), almost every a E A demands a unique combined infonnation structure (although traders may be indifferent among partial infonnation sales from different information allocations, etc. ). In particular, the aggregate excess demand correspondence for net combined infonnation trades is a continuous function. Proof Uniqueness fails only if an agent can obtain the same expected utility from two or more net combined infonnation allocations. ... Read more
Product Details
Format
Paperback
Publication date
2012
Publisher
Springer/Sci-Tech/Trade Netherlands
Number of pages
262
Condition
New
Series
Theory and Decision Library B
Number of Pages
262
Place of Publication
Dordrecht, Netherlands
ISBN
9789401052610
SKU
V9789401052610
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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