Schur convexity, quasi-convexity and preference for early resolution of uncertainty

Zvi Safra, Eyal Sulganik

Research output: Contribution to journalArticlepeer-review

Abstract

This paper deals with decision makers who choose among information systems. It shows that the properties of Schur convexity and of quasi-convexity are equivalent, even when general preferences are considered. Since Schur convexity is closely related to having a willingness to accept information and since quasi-convexity is closely related to having a preference for early resolution of the uncertainty about which information system prevails, then it follows that the equivalence implies that decision makers prefer more information to less if, and only if, they prefer early resolution of uncertainty to later resolution.

Original languageEnglish
Pages (from-to)213-218
Number of pages6
JournalTheory and Decision
Volume39
Issue number2
DOIs
StatePublished - Sep 1995

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