TY - JOUR

T1 - An elementary proof of Blackwell's theorem

AU - Leshno, Moshe

AU - Spector, Yishay

PY - 1992/12

Y1 - 1992/12

N2 - 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.

AB - 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.

KW - Blackwell's theorem

KW - Experiments

KW - information structure

KW - ordering of experiments

UR - http://www.scopus.com/inward/record.url?scp=38249008484&partnerID=8YFLogxK

U2 - 10.1016/0165-4896(92)90028-4

DO - 10.1016/0165-4896(92)90028-4

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AN - SCOPUS:38249008484

VL - 25

SP - 95

EP - 98

JO - Mathematical Social Sciences

JF - Mathematical Social Sciences

SN - 0165-4896

IS - 1

ER -