33 citations · 54 across the 8 of their papers we have counts for
5 papers · 1 filter
Modeling information acquisition: divergences, duality, and discrete choice
Alex Bloedel, Tommaso Denti, Luciano Pomatto
We introduce a new cost function over experiments, f-information, based on the theory of multivariate statistical divergences, that generalizes Sims's classic model of rational ina…
Monotone additive statistics
Xiaosheng Mu, Luciano Pomatto, Philipp Strack +1
The expectation is an example of a descriptive statistic that is monotone with respect to stochastic dominance, and additive for sums of independent random variables. We provide a…
Twofold Multiprior Preferences and Failures of Contingent Reasoning
Federico Echenique, Masaki Miyashita, Yuta Nakamura +2
We propose a model of incomplete \textit{twofold multiprior preferences}, in which an act is ranked above an act only when provides higher utility in a worst-case scena…
Background risk and small-stakes risk aversion
Xiaosheng Mu, Luciano Pomatto, Philipp Strack +1
We show that under plausible levels of background risk, no theory of choice under risk -- such as expected utility theory, prospect theory, or rank dependent utility -- can simulta…
The Cost of Information: The Case of Constant Marginal Costs
Luciano Pomatto, Philipp Strack, Omer Tamuz
We develop an axiomatic theory of information acquisition that captures the idea of constant marginal costs in information production: the cost of generating two independent signal…