COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
AT YALE UNIVERSITY

Box 208281
New Haven, CT 06520-8281

COWLES FOUNDATION DISCUSSION PAPER NO. 1297

Monotone Preferences over Information

Juan Dubra and Federico Echenique

March 2001

We consider preference relations over information that are monotone: more information is preferred to less. We prove that, if a preference relation on information about an uncountable set of states of nature is monotone, then it is not representable by a utility function.

Keywords: Value of information, Blackwell's theorem, representation theorems, monotone preferences

JEL Classification: C70, D11, D80