Ranking Statistical Experiments via the Linear Convex Order and the Lorenz Zonoid: Economic Applications
Fuente:
arXiv
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| Natura: | Preprint |
| Pubblicazione: |
2025
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| _version_ | 1866912864726417408 |
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| author | Chen, Kailin |
| author_facet | Chen, Kailin |
| contents | This paper introduces a novel ranking of statistical experiments, the linear-Blackwell (LB) order, which can equivalently be characterized by (i) the dispersion of the induced posterior and likelihood ratios in the sense of the linear convex order, (ii) the size of the Lorenz zonoid (the set of statewise expectation profiles), or (iii) the variability of the posterior mean. We apply the LB order to compare experiments in binary-action decision problems and in decision problems with quasi-concave payoffs, as analyzed by Kolotilin, Corrao, and Wolitzky (2025). We also use it to compare experiments in moral hazard problems, building on Holmström (1979) and Kim (1995), and in screening problems with ex post signals. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2502_06530 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Ranking Statistical Experiments via the Linear Convex Order and the Lorenz Zonoid: Economic Applications Chen, Kailin Theoretical Economics Statistics Theory This paper introduces a novel ranking of statistical experiments, the linear-Blackwell (LB) order, which can equivalently be characterized by (i) the dispersion of the induced posterior and likelihood ratios in the sense of the linear convex order, (ii) the size of the Lorenz zonoid (the set of statewise expectation profiles), or (iii) the variability of the posterior mean. We apply the LB order to compare experiments in binary-action decision problems and in decision problems with quasi-concave payoffs, as analyzed by Kolotilin, Corrao, and Wolitzky (2025). We also use it to compare experiments in moral hazard problems, building on Holmström (1979) and Kim (1995), and in screening problems with ex post signals. |
| title | Ranking Statistical Experiments via the Linear Convex Order and the Lorenz Zonoid: Economic Applications |
| topic | Theoretical Economics Statistics Theory |
| url | https://arxiv.org/abs/2502.06530 |