The Value of InformationApproaches in Economics Accounting and Management Science英文电子书.pdf

The Value of Information: Approaches in Economics, Accounting, and Management Science Aatto J. Repo Telematics, General Directorate of Posts and Telecommunications, P.O. Box 140, 00511 Helsinki, Finland This article reviews and analyzes research performed K. E. Boulding [3] defined economics as the study of by economists, accounting researchers and manage- the econosphere. This was viewed as a subset of all human ment sclentlsts In the field of economics of information. activity characterized by the phenomenon of exchange. The main emphasis is on approaches taken to describe and measure the value of information. Economists de- The exchange of knowledge and information in the form fine information as a phenomenon to reduce uncer- of, for instance, books, has assigned them prices and mar- tainty and it is usually studied in terms of exchange kets. On the other hand, difficulties in measuring the quan- values. Information markets and products, as well as in- tity of knowledge and information in a book have caused formation as a public good, are described. The ap- problems for economists trying to define information proaches to the value of information favored by goods in precise terms. For example, markets have been economists are (1) statistical decision theory approach, (2) equilibrium theory approach,