{"title":"Dynamic Signals","authors":"Mark Whitmeyer, Cole Williams","doi":"arxiv-2407.16648","DOIUrl":null,"url":null,"abstract":"In this paper, we reveal that the signal representation of information\nintroduced by Gentzkow and Kamenica (2017) can be applied profitably to dynamic\ndecision problems. We use this to characterize when one dynamic information\nstructure is more valuable to an agent than another, irrespective of what other\ndynamic sources of information the agent may possess. Notably, this robust\ndominance is equivalent to an intuitive dynamic version of Brooks, Frankel, and\nKamenica (2022)'s reveal-or-refine condition.","PeriodicalId":501188,"journal":{"name":"arXiv - ECON - Theoretical Economics","volume":"50 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"arXiv - ECON - Theoretical Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/arxiv-2407.16648","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
In this paper, we reveal that the signal representation of information
introduced by Gentzkow and Kamenica (2017) can be applied profitably to dynamic
decision problems. We use this to characterize when one dynamic information
structure is more valuable to an agent than another, irrespective of what other
dynamic sources of information the agent may possess. Notably, this robust
dominance is equivalent to an intuitive dynamic version of Brooks, Frankel, and
Kamenica (2022)'s reveal-or-refine condition.
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