The economics of information

Kenneth J. Arrow

Unlike the papers of some other great economists, those of Kenneth Arrow are being read and studied today with even greater care and attention than when they first appeared in the journals. The publication of his collected papers will therefore be welcomed by economists and other social scientists and in particular by graduate students, who can draw from them the deep knowledge and the discernment in selection of scientific problems that only a master can offer. The author has added headnotes to certain well-known papers, describing how he came to write them. This volume begins with Arrow's papers on statistical decision theory, which served as a foundation for his work on the economics of information. As he writes in his preface, "Statistical method was an example for the acquisition of information. In a world of uncertainty, it was no great leap to realize that information is valuable in an economic sense." The later, applied papers, which operationalize the theory of the early ones, include essays on the demand for information, the economic value of screening devices, and the effect of incomplete information on the structure of organizations, futures markets, and insurance.

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  • 1. Bayes and Minimax Solutions of Sequential Decision Problems 2. Admissible Points of Convex Sets 3. Statistics and Economic Policy 4. Decision Theory and Operations Research 5. Decision Theory and the Choice of a Level of Significance for the t-Test 6. Insurance, Risk, and Resource Allocation 7. Statistical Requirements for Greek Economic Planning 8. The Economics of Moral Hazard: Further Comment 9. The Value of and Demand for Information 10. Higher Education as a Filter 11. Information and Economic Behavior 12. Limited Knowledge and Economic Analysis 13. On the Agenda of Organizations 14. Vertical Integration and Communication 15. Risk Allocation and Information: Some Recent Theoretical Developments 16. The Property Rights Doctrine and Demand Revelation under Incomplete Information 17. Allocation of Resources in Large Teams 18. On Partitioning a Sample with Binary-Type Questions in Lieu of Collecting Observations Index

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書名 The economics of information
著作者等 Arrow, Kenneth Joseph
Arrow Kenneth J.
シリーズ名 Collected papers of Kenneth J. Arrow
出版元 Belknap Press of Harvard University Press
刊行年月 1984
ページ数 284 p.
大きさ 25 cm
ISBN 0674137639
NCID BA00462484
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言語 英語
出版国 アメリカ合衆国