| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 972965 | Mathematical Social Sciences | 2010 | 4 Pages |
Abstract
An expert, trying to assess the true distribution over the states of nature, is associated with a preference relation over utility bundles. He prefers ff to gg if he believes that, according to the true distribution, the expected utility of ff is greater than that of gg. Expert II is said to be more knowledgeable than expert IIII (Lefort, 2009) if, between the two experts, it is always beneficial to follow his advice. It is shown that if experts’ maxmin preferences are induced by information consistent with the true distribution, then in most cases an expert having more information is not more knowledgeable.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Roee Teper,