Detemple, Jérôme B.; Kihlstrom, Richard E. - In: L'Actualité Economique 63 (1987) 2, pp. 118-137
In this paper we examine the demand for information and the value of information in an intertemporal continuous time model. The model analyzed is a model with incomplete information where the information technology is controlled by the investor at a cost. The continuous bayesian updating of...