Download This PaperComparisons of Ambiguous Experiments
11 Pages Posted: 13 Jan 2015 Last revised: 28 Jan 2015
Date Written: January 5, 2015
Abstract
An ambiguous statistical experiment is a set of joint probability distributions over states and signals. This note compares ambiguous experiments from the point of view of an ambiguity averse decision maker and extends the Blackwell (1951, 1953) ordering to this setting.
Keywords: experiments, value of information, multiple priors, maximin, rectangularity
JEL Classification: C72
Suggested Citation: Suggested Citation
Gensbittel, Fabien and Renou, Ludovic and Tomala, Tristan, Comparisons of Ambiguous Experiments (January 5, 2015). HEC Paris Research Paper No. ECO/SCD-2015-1074, Available at SSRN: https://ssrn.com/abstract=2548502 or http://dx.doi.org/10.2139/ssrn.2548502
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