Comment on “The Law of Large Demand for Information”
Econometrica · 2014 · Volume 82 · Issue 1
Abstract
Say that one information structure iseventually Blackwell sufficientfor another if, for every large enoughn, ann-sample from the first is Blackwell sufficient (Blackwell (1951, 1954)) for ann-sample from the second. This note shows that eventual Blackwell sufficiency liesstrictlybetween (one-shot) Blackwell sufficiency and the ordering of information structures formulated by Moscarini and Smith (2002), and thus offers a new criterion for comparing experiments. A characterization of eventual Blackwell sufficiency in terms of the one-shot experiments remains an open question.
Keywords
Information structure, statistical experiment, information ordering, Blackwell sufficiency
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