Learning Effects in Economic Models Under Uncertainty
The paper on which this extended abstract is based generalizes the models and results derived in Venezia, J. (1979) and Nguyen, D. (1984). For this purpose a definition of more informative actions is given by using the so called Blackwell-Sufficiency which already appeared in Blackwell, D. (1953), De Groot, M.H. (1970), Grossmann, S.J., Kihlstrom, R.E, and Mirman, L.J. (1977), Boyer, M. and Kihlstrom, R.E. (1984) and Strasser, H. (1985). Examples illustrate this information concept.