The analytics of uncertainty and information:
Economists have always recognised that human endeavours are constrained by our limited and uncertain knowledge, but only recently has an accepted theory of uncertainty and information evolved. This theory has turned out to have surprisingly practical applications: for example in analysing stock mark...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Cambridge
Cambridge University Press
1992
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Schriftenreihe: | Cambridge surveys of economic literature
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Schlagworte: | |
Online-Zugang: | BSB01 UBG01 Volltext |
Zusammenfassung: | Economists have always recognised that human endeavours are constrained by our limited and uncertain knowledge, but only recently has an accepted theory of uncertainty and information evolved. This theory has turned out to have surprisingly practical applications: for example in analysing stock market returns, in evaluating accident prevention measures, and in assessing patent and copyright laws. This book presents these intellectual advances in readable form for the first time. It unifies many important but partial results into a satisfying single picture, making it clear how the economics of uncertainty and information generalises and extends standard economic analysis. Part One of the volume covers the economics of uncertainty: how each person adapts to a given fixed state of knowledge by making an optimal choice among the immediate 'terminal' actions available. These choices in turn determine the overall market equilibrium reflecting the social distribution of risk bearing. In Part Two, covering the economics of information, the state of knowledge is no longer held fixed. Instead, individuals can to a greater or lesser extent overcome their ignorance by 'informational' actions. The text also addresses at appropriate points many specific topics such as insurance, the Capital Asset Pricing model, auctions, deterrence of entry, and research and invention |
Beschreibung: | Title from publisher's bibliographic system (viewed on 05 Oct 2015) |
Beschreibung: | 1 online resource (xi, 465 pages) |
ISBN: | 9781139167635 |
DOI: | 10.1017/CBO9781139167635 |
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Datensatz im Suchindex
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any_adam_object | |
author | Hirshleifer, Jack |
author_facet | Hirshleifer, Jack |
author_role | aut |
author_sort | Hirshleifer, Jack |
author_variant | j h jh |
building | Verbundindex |
bvnumber | BV043919154 |
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dewey-ones | 339 - Macroeconomics and related topics |
dewey-raw | 339.5 |
dewey-search | 339.5 |
dewey-sort | 3339.5 |
dewey-tens | 330 - Economics |
discipline | Wirtschaftswissenschaften |
doi_str_mv | 10.1017/CBO9781139167635 |
format | Electronic eBook |
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spelling | Hirshleifer, Jack Verfasser aut The analytics of uncertainty and information Jack Hirshleifer and John G. Riley The Analytics of Uncertainty & Information Cambridge Cambridge University Press 1992 1 online resource (xi, 465 pages) txt rdacontent c rdamedia cr rdacarrier Cambridge surveys of economic literature Title from publisher's bibliographic system (viewed on 05 Oct 2015) Economists have always recognised that human endeavours are constrained by our limited and uncertain knowledge, but only recently has an accepted theory of uncertainty and information evolved. This theory has turned out to have surprisingly practical applications: for example in analysing stock market returns, in evaluating accident prevention measures, and in assessing patent and copyright laws. This book presents these intellectual advances in readable form for the first time. It unifies many important but partial results into a satisfying single picture, making it clear how the economics of uncertainty and information generalises and extends standard economic analysis. Part One of the volume covers the economics of uncertainty: how each person adapts to a given fixed state of knowledge by making an optimal choice among the immediate 'terminal' actions available. These choices in turn determine the overall market equilibrium reflecting the social distribution of risk bearing. In Part Two, covering the economics of information, the state of knowledge is no longer held fixed. Instead, individuals can to a greater or lesser extent overcome their ignorance by 'informational' actions. The text also addresses at appropriate points many specific topics such as insurance, the Capital Asset Pricing model, auctions, deterrence of entry, and research and invention Uncertainty Equilibrium (Economics) Decision making Information theory in economics Informationsökonomie (DE-588)4161671-6 gnd rswk-swf Information (DE-588)4026899-8 gnd rswk-swf Wirtschaft (DE-588)4066399-1 gnd rswk-swf Unvollkommene Information (DE-588)4140474-9 gnd rswk-swf Informationsbeschaffung (DE-588)4132784-6 gnd rswk-swf Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd rswk-swf Wirtschaftstheorie (DE-588)4079351-5 gnd rswk-swf Wirtschaft (DE-588)4066399-1 s Entscheidung bei Unsicherheit (DE-588)4070864-0 s Information (DE-588)4026899-8 s 1\p DE-604 Wirtschaftstheorie (DE-588)4079351-5 s 2\p DE-604 Unvollkommene Information (DE-588)4140474-9 s 3\p DE-604 Informationsökonomie (DE-588)4161671-6 s 4\p DE-604 Informationsbeschaffung (DE-588)4132784-6 s 5\p DE-604 Riley, John G. Sonstige oth Erscheint auch als Druckausgabe 978-0-521-23956-1 Erscheint auch als Druckausgabe 978-0-521-28369-4 https://doi.org/10.1017/CBO9781139167635 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 3\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 4\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 5\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
spellingShingle | Hirshleifer, Jack The analytics of uncertainty and information Uncertainty Equilibrium (Economics) Decision making Information theory in economics Informationsökonomie (DE-588)4161671-6 gnd Information (DE-588)4026899-8 gnd Wirtschaft (DE-588)4066399-1 gnd Unvollkommene Information (DE-588)4140474-9 gnd Informationsbeschaffung (DE-588)4132784-6 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Wirtschaftstheorie (DE-588)4079351-5 gnd |
subject_GND | (DE-588)4161671-6 (DE-588)4026899-8 (DE-588)4066399-1 (DE-588)4140474-9 (DE-588)4132784-6 (DE-588)4070864-0 (DE-588)4079351-5 |
title | The analytics of uncertainty and information |
title_alt | The Analytics of Uncertainty & Information |
title_auth | The analytics of uncertainty and information |
title_exact_search | The analytics of uncertainty and information |
title_full | The analytics of uncertainty and information Jack Hirshleifer and John G. Riley |
title_fullStr | The analytics of uncertainty and information Jack Hirshleifer and John G. Riley |
title_full_unstemmed | The analytics of uncertainty and information Jack Hirshleifer and John G. Riley |
title_short | The analytics of uncertainty and information |
title_sort | the analytics of uncertainty and information |
topic | Uncertainty Equilibrium (Economics) Decision making Information theory in economics Informationsökonomie (DE-588)4161671-6 gnd Information (DE-588)4026899-8 gnd Wirtschaft (DE-588)4066399-1 gnd Unvollkommene Information (DE-588)4140474-9 gnd Informationsbeschaffung (DE-588)4132784-6 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Wirtschaftstheorie (DE-588)4079351-5 gnd |
topic_facet | Uncertainty Equilibrium (Economics) Decision making Information theory in economics Informationsökonomie Information Wirtschaft Unvollkommene Information Informationsbeschaffung Entscheidung bei Unsicherheit Wirtschaftstheorie |
url | https://doi.org/10.1017/CBO9781139167635 |
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