An Introduction to the Economics of Information

An Introduction to the Economics of Information

In this revised second edition, An Introduction to the Economics of Information covers the consequences for the character and efficiency of the interaction between individuals and organizations when one party has more or better information ...

Author: Inés Macho-Stadler

Publisher: Oxford University Press on Demand

ISBN: 0199243255

Category: Business & Economics

Page: 287

View: 303

In this revised second edition, An Introduction to the Economics of Information covers the consequences for the character and efficiency of the interaction between individuals and organizations when one party has more or better information on some aspect of the relationship. This is the condition of asymmetric information, under which the information gap will be exploited if, by doing so, the better-informed party can achieve some advantage. The book is written for a one-semester course for advanced undergraduates taking specialized course options, and for first-year postgraduate students of economics or business. After an introduction to the subject and the presentation of a benchmark model in which both parties share the same information throughout the relationship, chapters are devoted to the three main asymmetric information topics of Moral Hazard, Adverse Selection, and Signalling. The wide range of economic situations where the conclusions are applied includes such areas as finance, regulation, insurance, labour economics, health economics, and even politics. Each chapter presents the basic theory before moving on to applications and advanced topics. The problems are presented in the same framework throughout to allow easy comparison of the different results. This new edition incorporates extended exercises to test the student's understanding of the material, and to develop the tools and skills provided by the main text to solve other, original problems.
Categories: Business & Economics

Economics of Information and Knowledge

Economics of Information and Knowledge

... the seller whom he happened to canvass, if he were content to buy from the first seller. But, if the dispersion of price quotations of sellers is at all large (relative to the cost of search), it will pay, on 62 Economic Organization.

Author: Donald McLean Lamberton

Publisher: [Harmondsworth, Eng.] : Penguin Books

ISBN: IND:30000047617455

Category: Economics

Page: 384

View: 806

The economics of knowledge and the knowledge of economics, by K.E. Boulding.--Economics of inquiring, communicating, deciding, by J. Marschak.--The economics of information, by G.J. Stigler.--An information version of pure competition, by R.A. Jenner.--Information networks in labour markets, by A. Rees.--Information without profit, by G. Tullock.--Economic welfare and the allocation of resources for invention, by K.J. Arrow.--Information and efficiency: another viewpoint, by H. Demsetz.--The tax treatment of research and innovative investment, by R.E. Slitor.--The benefit and cost of government support for research and development: a case study, by K. Grossfield and J.B. Heath.--The patent system, by A. Silbertson.--Policy for the transfer of results, by Organisation for Economic Co-operation and Development.--International trade and technical change, by M.V. Posner.--International trade in inputs and outputs, by R.E. Baldwin.--Long-range formal planning in perspective, by B.S. Loasby.--A scarce resource called curiosity, by D. Davies.--Technological forecasting in corporate planning, by E. Jantsch.--Information, rationality, and free choice in a future democratic society, by M. Shubik.--Bibliography: p. 366-376.
Categories: Economics

Economics of Information Security and Privacy

Economics of Information Security and Privacy

Journal of Management Information Systems 25(2), 281-304 (2008) 7. Choi, J., Fershtman, C., Gandal, N.: Network security: Vulnerabilities and disclosure policy. Journal of Industrial Economics (forthcoming) 8.

Author: Tyler Moore

Publisher: Springer Science & Business Media

ISBN: 9781441969675

Category: Computers

Page: 320

View: 658

The Workshop on the Economics of Information Security (WEIS) is the leading forum for interdisciplinary research and scholarship on information security and privacy, combining ideas, techniques, and expertise from the fields of economics, social science, business, law, policy, and computer science. In 2009, WEIS was held in London, at UCL, a constituent college of the University of London. Economics of Information Security and Privacy includes chapters presented at WEIS 2009, having been carefully reviewed by a program committee composed of leading researchers. Topics covered include identity theft, modeling uncertainty's effects, future directions in the economics of information security, economics of privacy, options, misaligned incentives in systems, cyber-insurance, and modeling security dynamics. Economics of Information Security and Privacy is designed for managers, policy makers, and researchers working in the related fields of economics of information security. Advanced-level students focusing on computer science, business management and economics will find this book valuable as a reference.
Categories: Computers

Economics of Information

Economics of Information

REFERENCES Akerlof, George A. “The Market for 'Lemons': Quality Uncertainty and the Market Mechanism” Quarterly Journal of Economics, vol. LXXXIV, No. 3 (August 1970), pp. 488-500. Alchian, Armen A. “Information Costs, Pricing, ...

Author: M. Galatin

Publisher: Springer Science & Business Media

ISBN: 9789400981683

Category: Business & Economics

Page: 250

View: 169

On May 20, 1976, the Economics Department of the City College of the City University of New York held its fourth annual conference. Eight papers followed by eight com ments were delivered on the topic of "Economics of Informa tion." These papers and comments are published in this volume along with a brief introduction. This publication has been made possible by income from the Harry Schwager Fund. My colleagues in the Economics Department have been generous when called upon to read and evaluate the papers. Professor Morris Silver, chairman of the department, was helpful at each stage of the project. Bob Leiter, my colleague and joint editor of these papers, died on August 19, 1976, while we were in the process of editing this volume. He was instrumental in organizing the Economics Department's annual conferences from their beginning in 1973 and for editing or jointly editing the con ference volumes. The Economics Department's Memorial Resolution, which follows, best expresses our sense of loss at his premature death.
Categories: Business & Economics

The economics of information

The economics of information

It would seem that the very high dynamics of changes in economic life, which was the basis for the birth of the economics of information, would question its usefulness. Nothing could be further from the truth.

Author: Przemysław Deszczyński

Publisher: Wydawnictwo Poznańskiego Towarzystwa Przyjaciół Nauk

ISBN: 9788376544892

Category: Business & Economics

Page: 148

View: 407

The economics of information. Theory and practice is an English-language version of the monograph Ekonomia informacji written in September 2019 and published at the beginning of 2020. The idea of translating it into English was born after posting the texts on Research-Gate. Then requests to make it available in English appeared. Rapid changes that have taken place in the world economy over the past year caused some authors to consider it necessary to include them in their texts. Therefore, the update of the texts have been provided, mainly in the context of consequences of the pandemic, but also concerning the entry of Brexit into the next phase. Attention was paid not only to the theoretical but most of all to the practical dimension of information economics. Moreover, the comments that appeared in reviews published in scientific journals, including those concerning the structure of work, have been taken into account. The monograph consists of eight chapters. Each of them was written by a different author. In the first chapter, the conceptualization of the term ‘economics of information’ was presented. It covers the genesis of information economics, an original definition and methodological foundations. It is a starting point and supporting structure of the entire book. The authors of the remaining chapters refer to and comply with the adopted convention of analysis presented by the research editor. The second chapter is devoted to the economics of information in internal communication in the era of social media. It constitutes a sort of bridge between information economics and public relations narrowed down to internal communication. Jacek Trębecki refers to the relationship between behavioral economics and classical economics. He emphasizes that the consequence of information asymmetry may be its influence on distortion of decisions. Chapter three by Waldemar Rydzak – Changes in Access to Information in Crisis Situations – as intended by the author, is to be a starting point for a discussion about the role of information in the contemporary market, which is more and more frequently discussed in the context of the fourth digital wave of development, with significant influence of mass media and the Internet, also in the context of the COVID-related situation. In the fourth chapter, Filip Kaczmarek used the assumptions of counterfactual analysis in his considerations, and on the basis of its results he showed that the so-called opportunity costs, or ‘cost of non-Europe’, are used as an instrument of legitimizing the European Union. In chapter five by Aleksandra Rabczun, Brexit and the Economics of Information, the Brexit case was analyzed in the context of the role played by information economics in this process. Chapter six, written by Izabela Janicka, is an example of using the concept of economics of information to analyze one country, in this case Germany. It was also assumed that both macro and micro aspects are taken into account. The author points to the overriding role of information in the post-industrial economy and to the fact that information has become one of the basic production factors. She also introduces the concept of a functional information minimum and an information gap. In the seventh chapter Marcin Leszczyński defines the role of the state’s reputation in reducing information asymmetry in the global market. The chapter ends with the analysis of policy and diplomacy in shaping trust in a government and the demand for products from a given country on the example of the trade war between the US and China. In the eighth chapter, Information, Welfare and Migrations – Practical Remarks in the Context of the Economics of Information, Katarzyna Świerczyńska fitted into the scope of research on the impact of information on economy and economic decisions of entities at the mega-economic level.
Categories: Business & Economics

The Economics of Information in the Networked Environment

The Economics of Information in the Networked Environment

PART III: ECONOMIC MODELING OF INVESTMENTS IN INFORMATION RESOURCES AT ACADEMIC INSTITUTIONS Malcolm Getz Moderator Speakers: The Economics of Information, Roger Noll The Economics of the Internet and Academia, Hal Varian The Economics ...

Author: Meredith A. Butler

Publisher: Routledge

ISBN: 9781000758009

Category: Language Arts & Disciplines

Page: 324

View: 403

In this book, first published in 1998, world-renowned experts on the subject of contemporary librarianship analyse the problems associated with coping with an ever-expanding knowledge base, given their current economic constraints and budgets. It examines challenging marketplace solutions to problems in the economics of information; economic modelling of investments in information resources at academic institutions; the economics of resource sharing, consortia, and document delivery; and measuring the costs and benefits of distance learning.
Categories: Language Arts & Disciplines

The Economics of Information Technology

The Economics of Information Technology

InformationRules.HarvardBusinessSchool Press, Cambridge, MA; http://www.inforules.com 1998b. Versioning: The smartwaytosell information.HarvardBusinessReview, November–December: 106–114 Oz Shy, 2001.The Economics of Network Industries.

Author: Hal R. Varian

Publisher: Cambridge University Press

ISBN: 9781139456722

Category: Business & Economics

Page:

View: 941

The Economics of Information Technology is a concise and accessible review of some of the important economic factors affecting information technology industries. These industries are characterized by high fixed costs and low marginal costs of production, large switching costs for users, and strong network effects. These factors combine to produce some unique behavior. The book consists of two parts. In the first part, Professor Varian outlines the basic economics of these industries. In the second part, Professors Farrell and Shapiro describe the impact of these factors on competition policy. The clarity of the analysis and exposition makes this an ideal introduction for undergraduate and graduate students in economics, business strategy, law and related areas.
Categories: Business & Economics

The Economics of Information Security and Privacy

The Economics of Information Security and Privacy

Matthias Brecht and Thomas Nowey Abstract Economic aspects of information security are of growing interest to researchers and to decision-makers in IT-dependent companies. From a businessperspective, cost-benefit justifications for ...

Author: Rainer Böhme

Publisher: Springer Science & Business Media

ISBN: 9783642394980

Category: Computers

Page: 321

View: 674

In the late 1990s, researchers began to grasp that the roots of many information security failures can be better explained with the language of economics than by pointing to instances of technical flaws. This led to a thriving new interdisciplinary research field combining economic and engineering insights, measurement approaches and methodologies to ask fundamental questions concerning the viability of a free and open information society. While economics and information security comprise the nucleus of an academic movement that quickly drew the attention of thinktanks, industry, and governments, the field has expanded to surrounding areas such as management of information security, privacy, and, more recently, cybercrime, all studied from an interdisciplinary angle by combining methods from microeconomics, econometrics, qualitative social sciences, behavioral sciences, and experimental economics. This book is structured in four parts, reflecting the main areas: management of information security, economics of information security, economics of privacy, and economics of cybercrime. Each individual contribution documents, discusses, and advances the state of the art concerning its specific research questions. It will be of value to academics and practitioners in the related fields.
Categories: Computers

The Economics of Information Technology

The Economics of Information Technology

Preface This book analyses the development of Information Technology (IT) at both the microeconomic and macroeconomic level. At the microeconomic level, individual firms, universities and research laboratories in Britain, Europe, ...

Author: Paul Jowett

Publisher: Springer

ISBN: 9781349183173

Category: Business & Economics

Page: 108

View: 558

Categories: Business & Economics