Comparison of Decisions under Unknown Experiments

We take the perspective of an econometrician who wants to determine which of two experiments provides higher expected utility but only knows the decisions under each experiment. To compare these decisions, the econometrician must make inferences about what the experiment might have been for each set of decisions. We provide a necessary and sufficient condition that identifies when every experiment consistent with one set of decisions has a higher value of information than every experiment consistent with the other set of decisions.

• Publication year

  2021

• Venue

  Journal of Political Economy

• Publication date

  2021-06-25

• Fields of study

  Not labeled

• Identifiers
  DOI 10.1086/716104
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

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