The Appeal of Information Transactions

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dc.contributor.author Cabrales, Antonio
dc.contributor.author Gossner, Olivier
dc.contributor.author Serrano, Roberto
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned 2012-09-18T08:29:33Z
dc.date.available 2012-09-18T08:29:33Z
dc.date.issued 2012-09
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/15388
dc.description.abstract An information transaction entails the purchase of information. Formally, it consists of an information structure together with a price. We develop an index of the appeal of information transactions, which is derived as a dual to the agent’s preferences for information. The index of information transactions has a simple analytic characterization in terms of the relative entropy from priors to posteriors, and it also connects naturally with a recent index of riskiness.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries UC3M Working papers. Economics
dc.relation.ispartofseries 12-24
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Informativeness
dc.subject.other Information transactions
dc.subject.other Kullback-Leibler divergence
dc.subject.other Relative entropy
dc.subject.other Decision under uncertainty
dc.subject.other Investment
dc.subject.other Blackwell ordering
dc.title The Appeal of Information Transactions
dc.type workingPaper
dc.subject.jel C00
dc.subject.jel C43
dc.subject.jel D00
dc.subject.jel D80
dc.subject.jel D81
dc.subject.jel G00
dc.subject.jel G11
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
dc.type.version submitedVersion
dc.identifier.uxxi DT/0000000829
dc.identifier.repec we1224
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