Timothy Van Zandt
Professor of Economics
JEL classification: D81; C60; Information topologies; Measurability;
The stability of optimal plans with respect to information is studied given the representation of information as sub-s-fields of a probability space. A decision maker is constrained to choose a plan measurable with respect to his information.Continuity is derived by characterizing the continuity of the measurability constraint correspondence and then applying a generalized maximum theorem. This approach can be simpler and require fewer assumptions than an approach based on continuity of conditional expectations.