The worldwide airline industry is currently facing one of the most severe crises in its history. Particularly affected are the network carriers, which need to develop more distinct products to adapt to the changed market environment. Since structure needs to fit strategy, the question of how the...

Sometimes we believe that others receive harmful information. However, Marschak’s value of information framework always assigns non-negative value under expected utility: it starts from the decision maker’s beliefs – and one can never anticipate information’s...

The productivity of (human) information processing as an economic activity is a question that is raising some interest. Using Marschak's evaluation framework, Radner and Stiglitz have shown that, under certain conditions, the production function of this activity has increasing marginal returns...