@techreport{Borgers2010When,
abstract = {The paper introduces a notion of complementarity (substitutability) of two signals which requires that in all decision problems each signal becomes more (less) valuable when the other signal becomes available. We provide a general characterization which relates complementarity and substitutability to a Blackwell comparison of two auxiliary signals. In a setting with a binary state space and binary signals, we find an explicit characterization that permits an intuitive interpretation of complementarity and substitutability. We demonstrate how these conditions extend to more general settings.},
address = {Evanston},
author = {Tilman B\"{o}rgers and Angel Hernando-Veciana and Daniel Kr\"{o}hmer},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C00; C44; D81; D83; 330; Complementarity; substitutability; value of information; Blackwell ordering},
language = {eng},
number = {1488},
publisher = {Northwestern Univ., Kellogg Graduate School of Management, Center for Mathematical Studies in Economics and Management Science},
title = {When are signals complements or substitutes?},
type = {Discussion Paper, Center for Mathematical Studies in Economics and Management Science},
url = {http://hdl.handle.net/10419/59659},
year = {2010}
}
