Comparisons of Ambiguous Experiments

11 Pages Posted: 13 Jan 2015 Last revised: 28 Jan 2015

See all articles by Fabien Gensbittel

Fabien Gensbittel

University of Toulouse 1 - Toulouse School of Economics (TSE)

Ludovic Renou

Queen Mary University of London

Tristan Tomala

HEC Paris - Economics & Decision Sciences

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

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

Fabien Gensbittel

University of Toulouse 1 - Toulouse School of Economics (TSE) ( email )

Place Anatole-France
Toulouse Cedex, F-31042
France

Ludovic Renou (Contact Author)

Queen Mary University of London ( email )

Mile End Road
London, London E1 4NS
United Kingdom

Tristan Tomala

HEC Paris - Economics & Decision Sciences ( email )

1 rue de la Liberation
Paris, 78351
France

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