Jati Sengupta
Econometrics of Information and Efficiency
- Springer Netherlands
- 1993
- Gebunden
- 272 Seiten
- ISBN 9780792323532
Econometrics as an applied discipline attempts to use information in a most efficient manner, yet the information theory and entropy approach developed by Shannon and others has not played much of a role in applied econometrics. Econometrics of Information and Efficiency bridges the gap. Broadly viewed, information theory analyzes the uncertainty of a given set of data and its probabilistic characteristics. Whereas the economic theory of information emphasizes the value of information to agents in a market, the entropy theory stresses the various aspects of imprecision of data and their interactions with the subjective decision processes. The tools of information theory, such as the maximum entropy
Mehr
Weniger
zzgl. Versand
in Kürze