Collecting Information to Improve Decision-Making

CentER Discussion Paper No. 2000-26

16 Pages Posted: 5 Dec 2000

See all articles by Rodica Branzei

Rodica Branzei

'A.l. Cuza' University of Iasi, Romania - Faculty of Computer Sciences

Stef H. Tijs

Tilburg University - Center For Economic Research; Tilburg University - Department of Econometrics & Operations Research; Università degli Studi di Genova - Dipartimento di Matematica

Judith Timmer

University of Twente - Department of Applied Mathematics

Date Written: March 2000

Abstract

In this paper we consider information collecting (IC) situations where an action taker in an uncertain situation can improve his action choices by gathering information from some players who are more informed about the situation. Then the problem of sharing the gains when cooperating with informants is tackled by constructing an appropriate game, the IC?game corresponding to the IC?situation. It turns out that the cone of IC?games, given a fixed set of players, coincides with the cone of 0?normalized monotonic games with a veto player. Also special classes of convex IC?games and big boss IC?games are considered, for which more is known about the solution concepts.

Keywords: information, cooperative games, solutions, monotonic games, veto player

JEL Classification: C71, D89

Suggested Citation

Branzei, Rodica and Tijs, Stef H. and Timmer, Judith, Collecting Information to Improve Decision-Making (March 2000). CentER Discussion Paper No. 2000-26, Available at SSRN: https://ssrn.com/abstract=247773 or http://dx.doi.org/10.2139/ssrn.247773

Rodica Branzei

'A.l. Cuza' University of Iasi, Romania - Faculty of Computer Sciences ( email )

Carol I Blvd, Nr.11
Lasi
Romania

Stef H. Tijs

Tilburg University - Center For Economic Research ( email )

P.O. Box 90153
B925
5000 LE Tilburg
Netherlands
+31 13 466 2348 (Phone)

Tilburg University - Department of Econometrics & Operations Research ( email )

Tilburg, 5000 LE
Netherlands

Università degli Studi di Genova - Dipartimento di Matematica

Via Dodecaneso 35
16146 Genoa
Italy

Judith Timmer (Contact Author)

University of Twente - Department of Applied Mathematics ( email )

P.O. Box 217
7500 AE Enschede
Netherlands

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