Informational separability occurs when information decreases as the result of suppressing information that … differentiates a subset of states in experiments. With three or more states, informational separability leads to entropy measures … partial information, and rational inattention …

Entrepreneurship begins with a conviction in an opportunity belief, formed by available information, and an elementary … course of time, leads to irreversible actions with an increase of the total entropy into a stable distribution. Entrepreneurs … seduced by the profits and benefits in the perceived opportunities. In the state of maximum entropy, with disorderliness and …

; information transactions ; Kullback-Leibler divergence ; relative entropy ; decision under uncertainty ; investment ; Blackwell …An information transaction entails the purchase of information. Formally, it consists of an information structure … together with a price. We develop an index of the appeal of information transactions, which is derived as a dual to the agent …

The rational inattention literature is split between two versions of the model: in one, mutual information of states …