The narrow applicability of Blackwell's result that "more information" is desirable, lies in the fact in economic models once a signal is observed by all economic agents their opportunity sets may vary. We show that Blackwell's theorem does not hold when the feasible set of actions is...

We propose a simple axiomatic system that any depreciation and amortization method - complying with the recent developments in the guidelines set by GAAP and IASB - must obey. The system is consistent with both the matching and the impairment principles. We show that none of the prevalent...

Empirical evidence shows that the value of units in a building generally rises with their floor level due to features such as the better view and lesser noise experienced in higher stories. We adopt a theoretical approach for examining the value of units in different floors based on the...

We propose a partial ordering of quot;unpredictable mobilityquot; based on Blackwell's ordering of Markov (information) matrices. This partial ordering ranks mobility matrices according to the degree to which elements in a given set are likely to transit from one state to another, independently...

We analyze the optimal voting rule for co-owners whose future debates are resolved by voting. Each co-owner independently forms an ex ante expectation regarding the likelihood of each member to favor any arbitrary future proposal. We examine the conditions under which a co-owner optimally opts...

Does there exist a voting rule to be, for example, inserted into the constitution of a newly constructed apartment building, which is likely to attract the greatest number of consumers? We analyze this and other questions within a framework in which co-owners resolve future debates by voting. We...