This paper evaluates information content of survey data by the means of entropy and dissimilarity measures. Similarities between a priori information (expectations) and a posteriori information (realizations) are assessed for four variables originating from Polish business tendency survey and...

This paper evaluates similarities between a priori information supplied by the business tendency surveys (that is, expectations), and a posteriori information (that is, realizations). A priori structure is defined by fractions of respondents expressing expectations, and a posteriori structure...

Expectations concerning key economic variables certainly influence decisions undertaken by economic agents. Since assumption of rationality forms the basis of neoclassical economic theory, question of whether expectations of industrial enterprises are indeed formed rationally deserves careful...