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

We present a simple example where the use of sigma-algebras as a model of information leads to a paradoxical conclusion: a decision maker prefers less information to more. We then explain that the problem arises because the use of sigma-algebras as the informational content of a signal is...

We prove that the English auction (with bidders that need not be ex ante identical and may have interdependent valuations) has an efficient ex post equilibrium. We establish this result for environments where it has not been previously obtained. We also prove two versions of the...