Ebook: Economics and Information

The notion of information is multifaceted. According to the case, it is a simple signal or already knowledge. lt responds to codes and is inscribed into a social relationship. There are clearly many perspectives which the social sciences can take to analyse the notion of information. The economy cannot account for the majority of situations where, in the activities of production, consumption or exchange, the notion of information finds itself implied, although each school of thought has its own understanding of the notion of information. This book takes this observation as a starting point and goes on to clarify a contemporary debate on the economy of information which remains quite vague, making use of the ways in which different theoretical approaches deal with information. To seize the nature and scope of the transformations in our societies, a consequence of our new ways of handling, stocking and circulating information in the workings of the markets like Organisations, such a theoretical exercise seems useful. The organisation of the book results from this choice. The contributions gathered in one part deal with the role of information in the functioning of the markets, those featuring in another are more interested in the organisations. To favour an enriching cross-reading of approaches developed in the two sections already referred to, we have preceded these with a section gathering approaches (which are more transversal) developing different theories of information (according to perspectives which are, respectively, systematic, statistical or strategic).

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This book explains the way in which information and knowledge are treated in contemporary economic theories and, therefore, contributes to our understanding of the importance of the strategic organisation of information and the acquisition of know-how to the behaviour of modern economies. It gathers together contributions of experts on the role of information in the various theories covered: specifically, in system analysis, in game theory, in the 'statistical theory of information', in theories of market pricing, of financial speculation and of bounded rationality decision making, in the evolutionary theory of the firm, in the 'new industrial economics' and in the 'economics of codification'. Economics and Information is divided into three parts. Part One deals with general theories of information. Part Two addresses the role of information in the functioning of markets. Part Three considers the importance of information to the operation of organisations. Conclusions are drawn in Part Four on the implications for the process of economic growth and for economic policies. It, therefore, provides new insights into some of the puzzling features of recent developments in the so called New Economy.

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This book explains the way in which information and knowledge are treated in contemporary economic theories and, therefore, contributes to our understanding of the importance of the strategic organisation of information and the acquisition of know-how to the behaviour of modern economies. It gathers together contributions of experts on the role of information in the various theories covered: specifically, in system analysis, in game theory, in the 'statistical theory of information', in theories of market pricing, of financial speculation and of bounded rationality decision making, in the evolutionary theory of the firm, in the 'new industrial economics' and in the 'economics of codification'. Economics and Information is divided into three parts. Part One deals with general theories of information. Part Two addresses the role of information in the functioning of markets. Part Three considers the importance of information to the operation of organisations. Conclusions are drawn in Part Four on the implications for the process of economic growth and for economic policies. It, therefore, provides new insights into some of the puzzling features of recent developments in the so called New Economy.
Content:
Front Matter....Pages 1-9
Introduction....Pages 11-16
Economics of Information or Economics of Information Systems ?....Pages 17-31
What Economics Borrows from the Statistical Theory of Information?....Pages 33-48
Structure and Role of Information and Beliefs in Game Theory....Pages 49-59
Information and Prices....Pages 61-81
The Self Centred Logic of Financial Markets....Pages 83-92
Theory of Information: From Bounded Rationality to Interpretive Reason....Pages 93-120
Information, Knowledge and the Evolutionary Theory of the Firm....Pages 121-137
Information in the Theory of Organizations....Pages 139-153
On the Codifiability of Knowledge: Technical Change and the Structure of Cognitive Activities....Pages 155-165
The European Policy of Promotion of the Information Society....Pages 167-187
Screening the Information Economy through Theories of Information....Pages 189-216
Back Matter....Pages 217-220

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This book explains the way in which information and knowledge are treated in contemporary economic theories and, therefore, contributes to our understanding of the importance of the strategic organisation of information and the acquisition of know-how to the behaviour of modern economies. It gathers together contributions of experts on the role of information in the various theories covered: specifically, in system analysis, in game theory, in the 'statistical theory of information', in theories of market pricing, of financial speculation and of bounded rationality decision making, in the evolutionary theory of the firm, in the 'new industrial economics' and in the 'economics of codification'. Economics and Information is divided into three parts. Part One deals with general theories of information. Part Two addresses the role of information in the functioning of markets. Part Three considers the importance of information to the operation of organisations. Conclusions are drawn in Part Four on the implications for the process of economic growth and for economic policies. It, therefore, provides new insights into some of the puzzling features of recent developments in the so called New Economy.
Content:
Front Matter....Pages 1-9
Introduction....Pages 11-16
Economics of Information or Economics of Information Systems ?....Pages 17-31
What Economics Borrows from the Statistical Theory of Information?....Pages 33-48
Structure and Role of Information and Beliefs in Game Theory....Pages 49-59
Information and Prices....Pages 61-81
The Self Centred Logic of Financial Markets....Pages 83-92
Theory of Information: From Bounded Rationality to Interpretive Reason....Pages 93-120
Information, Knowledge and the Evolutionary Theory of the Firm....Pages 121-137
Information in the Theory of Organizations....Pages 139-153
On the Codifiability of Knowledge: Technical Change and the Structure of Cognitive Activities....Pages 155-165
The European Policy of Promotion of the Information Society....Pages 167-187
Screening the Information Economy through Theories of Information....Pages 189-216
Back Matter....Pages 217-220
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