How to compensate people who provide relevant information to a decision-maker who faces uncertainty?This paper suggests …

invalidates many popular economic theories and models, and concludes that the existing economics is not really a science without …

will be the one to provide information resolving consumer uncertainty about their quality preferences. In the analysis, we … incentive to provide information resolving consumer preference uncertainty than otherwise. The model is also adapted to examine …This paper examines the interaction of information provision, product quality, and pricing decisions by competitive …

The quantification of entropy has prominence in a diverse range of fields of study including information theory … random object as a measurement of the uncertainty about its outcome. This measurement is expected to decrease when the object … measures of uncertainty. In this paper, we give a necessary and sufficient condition for the Shannon entropy of an absolutely …

the last decade large efforts have been made to increase the availability of information to travelers by means of advanced … traveler information systems (ATIS). This paper reviews economic aspects of information in transport markets. First, I will … discuss information acquisition from an economics perspective by characterizing costs and benefits of information, leading to …

information technologies. The objective of this paper is to offer an economic approach which is better suited to understanding …