The value of information in stopping problems

We consider stopping problems in which a decision maker (DM) faces an unknown state of nature and decides sequentially whether to stop and take an irreversible action, or pay a fee and obtain additional information. We discuss the value and quality of information. The former is the maximal discounte...

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Veröffentlicht in:	Economic theory 2024-09, Vol.78 (2), p.619-648
Hauptverfasser:	Lehrer, Ehud, Wang, Tao
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic theory Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Fees & charges Game Theory Microeconomics Public Finance Research Article Social and Behav. Sciences
Online-Zugang:	Volltext
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