Comparison of decisions under unknown experiments

Andrew Caplin; Daniel Martin

doi:10.1086/716104

Comparison of decisions under unknown experiments

Andrew Caplin, Daniel Martin

Managerial Economics, Decision Sciences and Operations

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

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.

Original language	English (US)
Pages (from-to)	3185-3205
Number of pages	21
Journal	Journal of Political Economy
Volume	129
Issue number	11
DOIs	https://doi.org/10.1086/716104
State	Published - Nov 2021

ASJC Scopus subject areas

Economics and Econometrics

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10.1086/716104

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Comparison of decisions under unknown experiments

Abstract

ASJC Scopus subject areas

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