Rational Aversion to Information
Other Statistics
2023-10-13 v3 Computer Science and Game Theory
Theoretical Economics
Abstract
Is more information always better? Or are there some situations in which more information can make us worse off? Good (1967) argues that expected utility maximizers should always accept more information if the information is cost-free and relevant. But Good's argument presupposes that you are certain you will update by conditionalization. If we relax this assumption and allow agents to be uncertain about updating, these agents can be rationally required to reject free and relevant information. Since there are good reasons to be uncertain about updating, rationality can require you to prefer ignorance.
Cite
@article{arxiv.2309.12374,
title = {Rational Aversion to Information},
author = {Sven Neth},
journal= {arXiv preprint arXiv:2309.12374},
year = {2023}
}
Comments
Forthcoming in The British Journal for the Philosophy of Science