New characterization of Blackwell's order for subsets of information structures

Danny Ben-Shahar*, Eyal Sulganik

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

We provide a new characterization of Blackwell's order for two subsets of stochastic information structures with meaningful economic interpretations. First, we show that one doubly stochastic information structure is strictly more informative than another, if and only if the convex hull of the former and all of its permutations, which are equally informative, contains that of the latter. We further present another subset of stochastic information structures for which we show that Blackwell's order is complete.

Original languageEnglish
Article number111515
JournalEconomics Letters
Volume235
DOIs
StatePublished - Feb 2024

Keywords

  • Blackwell's theorem
  • Doubly stochastic
  • Information economics
  • Stochastic information structures

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