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Introduction to the series
A Bayesian exposition of Blackwells Theorem on the comparison
A nonconcavity in the value of information
12 other sections not shown
ability able actions advertising agent analysis assigned assumed assumption bidders chapter choice choose concave consider consumers consumption continuous contract convey cost decision defined delegation demand denote depends described discussion distribution Economic effect equal equilibrium example exists expected experiment expression fact finite firm function future given Hence holds implies incentive income increasing individuals initial interpretation Kihlstrom lemma less marginal maximizes mean measure misleading Note observing obtain occurs optimal period positive possible prediction preferences principal priori probability problem profit Proof proposition prove purchase random rational regulator result revealing risk satisfies screening signal strategy sufficient theorem Theory tion true truthful uncertainty units utility variable welfare worker zero