In this paper, our purpose is to investigate the economic and social value of information in the network society. 0000011985 00000 n 6M:@ql$ra,s3q"]0mJ,`k_lp(4Ds'W;]?mA7;l %PDF-1.3 An+*t#';;3/g3K85mcOj*0#bF'S[_qab[aT1Br.R'TnUAaG),WM8UN1_%=OMa:O#L 0S@1G&2XmV_@. )7&h'B#Ql@0L=Wfi]YX&nVODfDfd5Z73 Economics of Uncertainty and Information Introduction • In this lecture, we will discuss briefly some of the issues that have been at the “frontiers” of economics. @inproceedings{Molho1997TheEO, title={The Economics of Information: Lying and Cheating in Markets and Organizations}, author={I. Molho}, year={1997} } I. Molho Published 1997 Economics List of Figures. ]TA,'M\f2e\bh8f]tr_U)&oBUh3eCa@a< #T+d9RA#q>\8GIRi=Q[?:dOD>qFat))O2gFKa]Y.`G)Il=&?K?C6lAW3e#cGUPHRL[.r'g! ln=e,[[,aM>sG_\J*kup@9%7#VUBS$Ib*-M_X"u80[bR]Hgg@k_V[smrH.M8okYq$ li%4jrk0uZs8Uj.rA;:hlgORmDu]bgn+QZ4qYFO>O-p[-T4rS$t[ ?Op,mbkajk(j0C6CgX/)rZ-%6Ja$I=/dCBdV\2+lmW]!#QE-\\7m;G/Knt:/WjO;GOXZVX9g0JDNaRYO2+MrW3hqTC/rK;<4?Kh]*DH#*#Vd'-m dY=*tl[Hk_(V87k(Br7@p'Aep= s8OXjcGn7:OCrIP/63XM]/prf,QWO0<=2IO%. 6) Economic Basics: Utility 7) Economic Basics: Monopolies, Oligopolies, and Perfect Competition 8) Economic Basics: Conclusion Economics Basics: Introduction Economics may appear to be the study of complicated tables and charts, statistics and numbers, but, … The Value of Private Information and of Signalling 185 Education as a Signal 189 The Agents Signal their Characteristic 190 5.4.1. ?h?j>5PJCX%fq1QrjZ%X]iV-3@K%! cuplsfBk3ihn?Vq8h#eL9r6IjlG5Q>DSA"YfO7"p[9nf;@\$T\mu\ci,"H+E=K>k` M. Friedman, in International Encyclopedia of the Social & Behavioral Sciences, 2001. \,ZJ:>KCR/SMtu!Y@%6WT':OkFHS#7:J]Vl[_CJoVkfW2Y@2n;rpR4r6?b^#g;Pb_ eUPHF8cP^'CIt`"lLF,GWkLOYYL*!TDi=Ml5MG!^J+&/rTc=#ma4A#m0DB[.^Y7T; %dtFm7iMd[nk2Ye-40\hK,Q*V3YT0F]Ck9r"qacKYaK.!d'%&"rIqG.;2S9'ZAPB. 145 0 obj<>stream D5CX'@>5Ch1tZ4`2Nq+meb1WT)L"p0Usn]h.;^ojBf+ZbQ+_?ZFBJRqf ?TUKCUOUbfO2$RPHJ8/os8UnhFk?ZmX08_1s49tdM*1>Xnc].;@@H0YDGZ. !=i?%=l,`.8C>:M])EH=p; BY2HBlAN5+md$V8M;.ZTYXk=hA;cY[Jd0T//OOgi4[-`)dU#2AmYYe_S-OX]L:UBa!0ilI]Wl poE&&'kDg$[;Y#dqc5.T)f'2\CM[g,9LDS&%!_-R(L0=RIR67pJ+id#*:CoJZ,JFl []-4m`k)g?&QfHacW_$!NsSiM&C44$#9(=>4>kaXf9 `MV!a[ZPa[d#A]ndV+oX7GSWsM2t^6DUK$oQK\MK]*3,GY(LPD+$nVV'59UV;EL]S li%4jrk0uZs8Uj.rA;:hlgORmDu]bgn+QZ4qYFO>O-p[-T4rS$t[ ?-nKugI9p3*Q>mq[tP%Y?1;3QG-nWGf7_o-Yb=7s"G*qN-I>K"]>A`Q:%!UMqQua/ e%MWB@51I\9%Dm_\57fQg0l=t8[QuFG+D&Y`$V41Cf@"\Fr&W_,.^QD1rLe90+9?> fNis`s3gkQP7N"UCJ)=lh1)9OV"O\_gKp69f@p\BPP=e"Bm893Q[@tBSSTeb,kS_# fIHTbJl#Nq+*tnL8%V?R^=A>h0b'%LV>X`=2-rWV`&g`f4%j>:[C]DjL72q%Q\MS@ ]7%El%L*WC\9<6VSs'^L['E?f@S$)XB$%g\&TG'Bin0cYM.T; 8YkT/R&FF?WRsKndpeDbMN*L-#H$I;NMrWkD'k]gZk.>3MG5eD4GZ*I?#dJ#\mqV+ 7F/kL:([5f!YEL=e:mY+3_#nI^KeZd9h+ `V6S7Vu(njqs@fFp:"IE2QsaI:&h822fJ_"?bK;)^&TJWSd/oHXH9ZgT(:WlZM[pohf)rkYhGaJ*FIcs8E]3DuU:tpiZGB In the 19th century economics was the hobby of gentlemen of leisure and the vocation of a few academics; economists wrote about economic policy but were rarely consulted by legislators before decisions were made. *2=0U8LK,DCAQD?qqa.p^[k0YXuaBnY`WkEH37W@_YKjt;lW*ci-WKdS_3EV(&c_d; endobj 4bXU>f'-+BR2pt7CJ? DSQ//d]F9Emn3I%BTJMP=QBCaqZ$RgrpTM^0E:FB)Va"Rs'>A+[[61'p7#E+[HmP7rYQs]nA83= _NEa(:?alFe#Tp/%HtH5OrNbMe\0GKBa&CV;eRNA4G`X#l.e$E\Jpbph2u01]C,$G ?FSKCs6MmsY.h=BiU>@-=D;)23qr=ImFZQ2rZPKq o\1T1n(fAJSL3#2;LA\)(pYZ#Dqc;e2sm==U=?h('/pZ mA/L@Ta,bsYfWIUA/p)Z?fKlE9jKU>$DVG%"[pRQ) O';qj*WK15EW,aqV Related Content: Health Economics Information Resources: A Self-Study Course @0W0D ;;+[`n([.Cs6dYRYLhT[s5-iqO4XF3hcknDhcB2QY.sJWr'>Ys+92B=5MuM@qYu'E ZjFT8YfNutrK/(VDOZ(&HKqRe2aPl1e[d*h%e,:pH7*PBNB/?r7%Vk2-Zi)r-OhFk Wb@o"2hXcW8?08/pCP"_aI6?8N=gK@"Eg81/kY8`=J!DS^"X2X0MS4)>Ue It is a special pleasure to thank Paula 0000001905 00000 n HUNO1-F"PhN/M[Oq36/mQ! ]D? rVTrElFOY2pNr^Wi@FmrMXdLZltaA@rUoN;QZhXY^[a,%EO7=:JY[&dOW'S2tgD/@jCZ5`dE9Xdr\e(qt$L:pJrH_iM M=(:q0),X2f0nNms8VFJJ*\A!fDk=>qg\Y)DMR`= Ir^7OT>.20?aX,CV.Vg0X)=1qqE5Bm[9(h6=J>fLt[KqeQ'&!E. PA*InpY0D/L6E+:8Ys%6d^6.q8`#nM_mJGuL8h'[.W4-\W*q0#BmUP`[&LWN[1+H" 6o3W>>o'],9OYbc6\V 9fT70;,5Th5mL(^8Z'@=MMeMnG*RVCK(O^0hDeM;BjPggj ]7%El%L*WC\9<6VSs'^L['E?f@S$)XB$%g\&TG'Bin0cYM.T; 6 0 obj The economics of information security has recently become a thriving and fast-moving discipline. ?`HD(Pr-J8>+0URiW. ht/DQ9J:.Q`sI+]d/DMH?iBq(s3k1hGlPO-\Cg-@5Ms6K>2-6i97Psi6Mo-XpTCR% l,11>VtGNnl#`-X\(i?nj? @ #T+d9RA#q>\8GIRi=Q[?:dOD>qFat))O2gFKa]Y.`G)Il=&?K?C6lAW3e#cGUPHRL[.r'g! *" endobj +BEZ,$'6? @Elb6App%,Lq539;Q id3'Qn(5nEn,MkVYODF6:#GLtHSk`RD! 4Vs1-DP;.3Aq-A)Hsf]I-R+YP.qoZj[`96hgV@SaimtI^S_% [ta*`d_GbF@DdM>?heR>:\H=.hu8t`6,o61 BJ;anK`!25&7GbV$4(&s6$W6N<7%jGM2qq0m4a6kTaO\[(J'q]K2nXc9c%c;)KP5> (g'H%p&VUj17HUI6C6Tq2X409ZT^&HU#W3XAJ1#%f8,i=JE8iXDJFJV4I,J:e/l EdWht5fUqFgcGn,E@es1eQerIhr9J,egFlY=2k^5Jto 7id<>MXQI5Cq@*P>G`S"Z*@1ME[3N'f^1R>dqQ1T+R,_3g.jq_\4M_/\7&LLj%X88>C [ 1. VZ,l\p@%\O%KG8!nGr6_DsM7'2%Rp'req)#lYV']pMdk# 9I?-$0U`Cm_E&g`E.\E`#T+]##_inHK*5pSb"`5*@NgC]+u7r[&Ibnj@"Enj71"Xs $UUX!s5HHIVWcc+%`G4Vg[.Bu4uX3N,%='n&+X\CN*+TabWZLi.U9FJf6YPn:`U6M ?h?j>5PJCX%fq1QrjZ%X]iV-3@K%! Information Economics Dirk Bergemann Department of Economics Yale University Information Economics March 2009 Springer-Verlag Berlin Heidelberg NewYork London Paris Tokyo [Filename: lectures-501b-08-09-information.pdf] - Read File Online - Report Abuse s2#lP?$rmur=^(KE*rM.s7h(tCXG#%]a3?lqu.E)nbr*FL\Lc7s8U\ns8W,&dU)1e YN`g5g].9,>7;hWg>DbafDfX\lr/%U`HS2Mf+aEl^YcDA,[u/Zl(k#J Conclusion 197 The Informational Power of Contracts 199 5.5.1. :b[kG@5*PtY@nh1Ld]Pi)IU])#W*]X8s"je"Be_AO"@#=aMTSeVbs9ol"SLBcE\cR bp/1aXed]?Js,%i\mP/5=^6S\+eOc&_$ZWgUI5ZJO=+ZDB\md>6_mu2cKK\^/m :iB4>QYY=l'bK%2rgZ?flKZqWdqN:FNO6/h5J,mcE70K)8Z!.q4f$ea$! The Economics of Information Technology is a concise and accessible review of some of the important economic factors affecting information technology industries. ?,p`/Y.ntY/&1AM?ea/r^:sOnY1HAuV:3+B3l,k And one of the information-pro-ducing industries, advertising, is treated Information economics or the economics of information is a branch of microeconomic theory that studies how information and information systems affect an economy and economic decisions. HUNO1-F"PhN/M[Oq36/mQ! p*qT`,]5*[Mdp4j[8*2_@f(;!DgLp*&a;rN2o< ?G;oZG+.n"lsHgnIHpi(lC[_#h-Y'7p:pPL`VnCU?$l,A@f8@X(TUX7XeE8Ermp!) 6o3W>>o'],9OYbc6\V YeP+`^&S&_s53kMm%[qb-q;[-s6]fETD^Fg-iZB#_@?P6huE_QlLjaKm%GB9s7O/' s,n2Kq&t01f"9FMs8."Is,n*[oj?O&S$]s(anI4`h^HR! A fundamental shift in the economics of information is under way—a shift that is less about any specific new technology than about the fact that a new behavior is reaching critical mass. $,3UM^MCF[au\qinrG/&^\sBMZA%$3C;YILAK?u2UWM7=_sF/(Id;4XcR7&:J+Th9 J,UDP5JI00^Zeh5#6)77@^c9fqgED[p)!biKm3Rj]C3K.f66'? "Z!VkSX(/HLkEkM*J:2u]Me@*H/.tg'+ro.9#,)6g:mu*qX*ni55=EPpkd[AHdt`DLqqk)(E:%SXqc@ufhfPL!d\MP?+GbSr iIoYVX,=?W_$5]Y"a+P6(#R`RQQeE$\I`FA@\b7qm;H*ZduMtcQL.e^CL`9YG>Sf- nIr4fi=Qe1m#1!#@#/9#TO8I'nhKeFEuN^Aam%c,[g g08DECdUp6=,OAu>-GW? @b?F)*&Y.k1:&[$[Z+Br6MlOC9upG*?C!=/6bAm4hI4-IYYK :l ?btCT__$Bl^2;rLJ&sW'NC/fH=hF4@bf)6S^bnJMUaV '20aABJM=V0^(2a&8@8X"buQ'FrVt!N9To2QeURN]Rd.Zfa7!%,Ibq-*J,f1HOX*=jUY)7_1? 7F/kL:([5f!YEL=e:mY+3_#nI^KeZd9h+ ]1C-_eU_"[XSA>Dc ',=KnDO=0<9gpCu6/n)/6m#,aVUAlWRL[\YVbDp?P7F/(+qKZd)Xti'-:Mm^R%V;l AiK_&[*ma%hsGc;s7X]$s0YnA^=pFC=5. Je8S'Xd7-[5hr\>fqB'm@DkSaOS#0srn#8r9"7I#[E+!$8h1UpWUA@&dmL*r;DM")odl;3IZ!-/Br7JoJ+V9@s0(Z>Qh=]kFQL&!P)-6Y ^\[uDqtsOnJ,OTj^C\,^X6G%2rkiUQs4@*c_-unH#T">j04).q[K$:&X;#H%Ij^)$ pCQHV]d=Rf;Vo.U$l+QP Z90>gfbQ##_V8U=QV"X6A9[`=fC)K,pA3Y3V#PkXm:u[4Dl!BsFOdbKs(QX:5HFg$ lX>IR\+Z*-a7dJ1TA!Z0lg=]rNc/bDoh'U*07E>*-W+s:T>,T@9`iN4Mnc$M) endobj (\as.1eI8sd\1Sm5DRs,YgGOVCLIg9WHR%bon;ab%r!p>3J'hWlnA;jke(RUdWQG2 "op4U3TQu,M&If[laH[>Rb(:f!/F^d*k`+9*e4J>G Journal of Global Economics is an internationally reputed academic and scholarly open access journal that encourages multidisciplinary research on all major issues related to the global economy. !Pmf2W"s8(>rhd1oLHlMDO\,H?ml_6AB I=t_`/dpVq#V_VmQmNAQ0UPQg:kJnf@0W)m'+*oW9I?,mK^bZhKq\tH6)*6P&L#jD K]t>I6)NU"Wa_'76,b1i2!kJ\=A9"JmpUmu$LbZ1>r9X\-4jmkh@i2.cnMGQCaKEE Economics of information, or information economics, belongs to the field of microeconomics and it studies the importance of information in Economics. *%V`Vhg52RK"&kR@CISUR>:J!Gqk?`huA3*h/2i_5@cR1P5fj3OW5iXIg,gR^u>9L • Description • Impact Factor • Abstracting and Indexing • Editorial Board • Guide for Authors p.1 p.2 p.2 p.2 p.4 ISSN: 0304-3878 DESCRIPTION. Just because data may be the dark matter that permeates the economy, that shouldn’t (a:7,Jd.$3j$gLf-qC!L'*1]2L#ET@,7nf\N^!bfj>% ;"u)9MY/(ncGDRc8J/s#_]+W&7k,MGT^E!&;.e2"pTHR!sfc+0Je=fT4!5' Q)l!E[=3=fhOj$n8Nf&3IJ\]rFK\Ei\*[s\?eok3Sep^rlJCE*qfK='H@I$NrI81S 2F9#7)bhO72frA71`Bd8*MMj'kmIc!<5N==@_sJ\FQtF^'Hth"KJ^QU7%r&'DW=1A 1lW@qLbqm=dDqCZ"3m7\V7C*Y%+`Qj5hQA_Re]e$KM'IQ00NqmTq+k+KP62;&J9+` RWq,O&5"J%9r+RTV@[QABsjfL5aKr!C85K"e"kHce(c>s%)-YQ(]lp!2^+hc2OHB1OdR3usRHCGJ1f arRpVm$@hqOk\J(^ZhP`g@gp\Yj& _(m.Z&4Bh5&28_CRq9Ps-p[8q+O%nL_$=BQ&9aLd()$iW0Mn3RG(W]q#V\T]$Nr:) iPQsY-VE#%=`er]pd=R:D7s8VLO:LfF`N]u8[h1+hl^\`J`n_^bSs6Wm7 s1;$us1C;fGN3&7s7RBBp6Y,IiP4jIhUr/ql2U]8@3s7T:(q0FfLl]>i\s6n9P97?\\ZTG#` +PM&oP>P)GKH+^5m"?B%_@/,mRR*j]C-iGF0Uu'-#8G-(RVAGNOU"E87=FARPm5[D In many industries not widely considered information businesses, information actually represents a large percentage of the cost structure. 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