More nonconcavities in information processing functions

Theory and Decision 51 (2/4):351-365 (2001)
The productivity of (human) information processing as an economic activity is a question that is raising some interest. Using Marschak's evaluation framework, Radner and Stiglitz have shown that, under certain conditions, the production function of this activity has increasing marginal returns in its initial stage. This paper shows that, under slightly different conditions, this information processing function has repeated convexities with ongoing processing activity. Even for smooth changes in the signals' likelihoods, the function is only piecewise smooth with non-differentiable convexities at points of conditional changes of action. For linear likelihood functions the processing value proves to be piecewise linear with convexities at these levels
Keywords Value of Information  Information Structures  Information Processing Functions  Information Economics  Decision
Categories (categorize this paper)
DOI 10.1023/A:1015515312757
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
Download options
PhilPapers Archive

Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 16,667
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Add more references

Citations of this work BETA

Add more citations

Similar books and articles
Max Velmans (1991). Is Human Information Processing Conscious? Behavioral and Brain Sciences 14 (4):651-69.

Monthly downloads

Added to index


Total downloads

5 ( #377,318 of 1,726,249 )

Recent downloads (6 months)

3 ( #231,316 of 1,726,249 )

How can I increase my downloads?

My notes
Sign in to use this feature

Start a new thread
There  are no threads in this forum
Nothing in this forum yet.