problem. Information is modeled as a pair, consisting of both factual information and awareness information. The model … preserves the central properties of the standard information partition model …

The value of information is examined in a single-agent environment with unawareness. Al though the agent has a correct … lead him to commit information processing errors and to behave suboptimally. As a result, the value of information can be … negative, contrasting what is true in the standard model with partitional information and no unawareness. We show that the …

Consider an investment problem with strategic complementarities and incomplete information about returns. This paper … shows that investors aggregate their private information in equilibrium by trading a token and observing its market price … over multiple rounds before making the investment decision. This result is robust to the information environment. The paper …

The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini …

We characterize a precise comparative static on welfare and the amount of public information in an economy under … uncertainty. Results dating to Hirshleifer (1971) have suggested that information can have negative value in such a setting, but … concept of implementable allocations, the negative relationship between more public information in the sense of Blackwell and …

The properties of information, including "information uncertainty", can be understood only Bayesianly. Common … formulations that define information uncertainty in terms of just statistical "precision" (i.e. sampling variance), or any one … estimator characteristic (e.g. bias), are inadequate for generalized Bayesian analysis. Methods that deny information a Bayesian …