On the Concept of the Value of Information in Competitive Situations

Jean‐Pierre Ponssard

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Game Theory and Applications Capital Investment and Risk Analysis Competitive and Knowledge Intelligence

Abstract

In this paper a game theoretic model is used to extend information value theory, as developed in decision analysis, to competitive situations. One of the main differences between competitive and noncompetitive situations is that part of the environment (namely the competitors) may be modified as a result of experimentation in another part of the environment (nature). Hence, states of the world and actions may no more be independent. Nevertheless, we shall show how the classical concept may be generalized to cover competitive situations.

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2015Games and Decisions 2004Games with Incomplete Information Played by “Bayesian” Players, I–III: Part I. The Basic Model 1968Games with Incomplete Information Played by ‘Bayesian’ Players, Part III. The Basic Probability Distribution of the Game 1966Information Value Theory

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1979The Strategic Role of Information on the Demand Function in an Oligopolistic Market 1977The values of information in some nonzero sum games

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