developed in previous work that relax the strong assumptions on information.We also review some related literature.[...] …

In the context of decision making under risk, additional information can be seen as a resource for the improvement of … decision quality. The value of this improved quality is usually measured using Marschak´s concept of the value of information …. From this point of view, human information processing can easily be understood as a production process transforming the …

The productivity of (human) information processing as an economicactivity is a question raising some interest. Using … information processing function has repeatedconvexities with ongoing processing activity. Even for smooth changesin the signals …

material information will increase the efficiency of their decisions. However, production of such information is only a … necessary, but not a sufficient condition for better decision-making. One also has to secure that this information is used … quality is not only affected by content and quality of information, but also by the way how it is communicated and perceived …