New results on rational random behavior |
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Authors: | John P. Bowman Kenneth Laitinen Henri Theil |
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Affiliation: | University of Chicago, Chicago, IL 60637, USA |
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Abstract: | This letter deals with conditions under which it is preferable to buy a zero amount of information; with a proportionality of the information and loss variances associated with two different decision distributions; and with a limiting chi-square distribution of the decision maker's loss when the marginal cost of information is small. |
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