What Economics Borrows from the Statistical Theory of Information?

  • Pascal Petit
Chapter

Abstract

Information is one of the main notions in economics. The economics of information as a research program shows that this notion is essential. As an example, Stiglitz says that “the research program in which I have been engaged over the past two decades have set out to construct a number of such simple models, evaluating how market processes work in gathering, in transmitting, and processing a variety of different kinds of information, in a variety of different market contexts.” (Stiglitz, 1994, p.26). However, in economics, the notion of information is polysemic and adding an epithet to it often solves this problem.

Keywords

Relative Entropy Industrial Concentration Output Message Informational Distance Uncertainty Link 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 2001

Authors and Affiliations

  • Pascal Petit
    • 1
  1. 1.ParisFrance

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