An elementary proof of Blackwell's theorem

Moshe Leshno, Yishay Spector

Research output: Contribution to journalArticlepeer-review

Abstract

This paper presents a short and elementary proof of Blackwell's theorem. This theorem states the statistical conditions under which one information structure (or experiment) is more informative than another information structure. By more informative we mean that one information structure does not have less economic value to any decision-maker than another information structure, regardless of the payoff function, the decision-maker's utility function, and the a priori probability distribution.

Original languageEnglish
Pages (from-to)95-98
Number of pages4
JournalMathematical Social Sciences
Volume25
Issue number1
DOIs
StatePublished - Dec 1992
Externally publishedYes

Keywords

  • Blackwell's theorem
  • Experiments
  • information structure
  • ordering of experiments

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