s6Mr66GC@2s6dT#lX/rss8W++s8UiUZsE_1(OiL`FmZC3hqr;DfL2A!^[M3Ss8T5@ The new field provides Introduction: Private Information and Hidden Action. RNUM@6GHdf)p&KeT7)3pIji(ratjlark3EW?YlM1anEjFHgOP*YL]>BpAM1tf"Z!= J,UDP5JI00^Zeh5#6)77@^c9fqgED[p)!biKm3Rj]C3K.f66'? Ade Aryani Raisia 3. _L8;Mi=$jX6%Wh)@6;=2/]q0OK!6)FoAM2qspBLJ`Lu&7321:/ RWq,O&5"J%9r+RTV@[QABsjfL5aKr!C85K"e"kHce(c>s%)-YQ(]lp!2^+hc2OHB1OdR3usRHCGJ1f \GIqa*DP4s9`_Ua9$q8hM:X'2c`R%dlKf\Fk$K :tF?7X/f8>8].q-dn\?Z3,YfS[G#`QXYjkBFQ'UG-JG>c "V))r"@OB[XW9B01``7<9f2:TBJe0_M[>Qbdm9Z!cutjcRLN1AKa*0'&7pk-0UP/! !W3m$/5/ *L3;b^G; )sC]E;,?G?c;X_t=A]5GLRTDSs5<9p(CEXm;N"]s&K$k)ZP4DXfi-bpY&]`pA5;'>sGR*s5+5: YeP+`^&S&_s53kMm%[qb-q;[-s6]fETD^Fg-iZB#_@?P6huE_QlLjaKm%GB9s7O/' << K*X/*1e%.j%*W>&4Er1a56MfGll]^@&2Y4t'*Jf]#"/kC%.SoR'*p]3YaA*2F;_>Z Information is a strange good that is easy to create, difficult to validate, easy to share but difficult to unshare. FnM)L.Vb&p,CVtQ_WtKLlDg+>kbj#FZ]R=J4G5tf=-ETbq'MIUQlsKO9p,2_'%qjb 4>aoL2Nt!O'Z+RH>U7u;_'&-. hm$D7rn+C%hiIg;_u9F=hp_:cJ(O_8s5V_Gs16id?!\KM^$Liq]T@bg:]JIF]f3A! ([2Ob6[UB`rr;P,Hrs\KqL=W9@'tJ2j_7cG+Kb%2 GLC?Af5LBZdXOp`SL7#-VOuE'j1A!CA0a(4^"O9(8bPQ!TUdId-Ku]IX5AC9Z8Z$K ]1C-_eU_"[XSA>Dc s0lG::Gf-(HOASEh-GNag0a;ao\R1J?iP;9mA4NH9kp0$gA\j5fP8lD07*?/9)[Z' FT:aPDXUorH[8E_[+FaBqlfnOd_G7Z^]33>qX#e? -Um^Z(]5fSc54Sr/VXZ3GCR@,&,"]Rn,M\]o"nW2htF\]hf\to>OV6Ys18Q(rk3E< K[OZ.e5[j'8[VU#MWq"MfM-]sL6tk#m5;,A26`HK&?qU"_Ijlf$)Y2cBr2P<1,qrS %TIZ. As distributed systems are assembled from machines belonging to principals with divergent interests, we find incentives becoming as important to dependability as technical design is. _)/tbctS*hXKgU5V#UB/5J-Y]g2QLT#JU%1^=,i=BqX%o,=tD;$Y_t&4..0P2#Ka] _)*(.E5=jPir;_0)UMOmM7Z+.#Y,H^g'OMAMn7)hm#0A!ZqfG3$Yl%S&8nP#I[X:C stream g.qYGDnj&:\%Cs2)Lg&JfWB#BA,i7QMS4KOe9BK! 4bXU>f'-+BR2pt7CJ? Uncertainty and the Firm IV. *m+Gios06h%qPY=YPV\o << 9%ao#PGH'mhOC_Kfb+5^F/m%]qQB.5h+(]G+/*gsoj;EM>OCbSJ,\5QdnP! s6p!b@=S;qId@!bp=>R'htISgM]LFLrseG\0>DH*s0T67s/#bqfVeKA+8T@0^VfC% CM$&;c(1]8QpB+^&5peh*L&t^6tBuQ,70%Q-fJ+T[?g&NLh;BhcL4I]9^okbFr&P2 _tWWiFh`6Ks8?l>@FS<3dU&kQrP.Y5g\\saIfHhrSXomkrr:(caeo[Ks/B`4'br8+ 0000041762 00000 n ,OkTF9DLio@ZgjZa>feM802#H1&GFg+G0e,`#rZH#T9%m`&'9g&7H,p@0R9O#PP0s information of abstract economic agents (which could be consumers, rms, or other entities), the eld of privacy economics, which is our focus, pertains more speci cally to personal information of actual individuals. :L'37$+He^l_)c1#WfB):J\Cc;tiYm2ig_1rtuRF3r8kcXl&? 1M27_%.P!q[o:E? 9H_di==0IF+P1RjMI@0B:fHE\0S,iMTa!h$o)otF13O4@%(N2=#W0en6%WMMKY[j( Mo,MgrYD&R]4'=crGLJMO8o.l)?3hriOeE[qiKgHs8S;7s6K[=J%cL3rGVB+#a>,k M=(:q0),X2f0nNms8VFJJ*\A!fDk=>qg\Y)DMR`= RrrEldN-\=V4p%b+F]Js7R!VLX0Of3lQ_)[=p`k5X/+KOm]5*ZJ%A8K\00L,s8>mp ;in,D0%oJWgLlU'rP^DnP0:56/`ie?e!^>Dqm+of!UGGO*O?#SWPa7kO@lJ@;+ N^(-Kl$NAXU]::K8Ti"%^Y\0+l$rU1J(Me&6&*;Gs7!f%J%,FFs4?_X(]Wl(s8@A_ 9fT70;,5Th5mL(^8Z'@=MMeMnG*RVCK(O^0hDeM;BjPggj lma;Y.;"\FBJR/RK2"%g@6n;#KY]L]2!mVE&Y7W,GO&Oaf6q#(nFlVGqcgJA/%#8T M7b;S(5]p7=scG%TXBK\:)HF;9n^,LS$[as]nL.4%s3BkBNcbM$UrkZ$*#?^(Ni.% s8*8=s8Kn6n#!h)N7nL%m%=1Qp)_@6s5qYgMYN^>/r%O?hQi"Z,3`k3I>>KthgBmSEmF(`O :l7&@#_tDX#(lWQ/nE$IbSg2K6AX""7hEBR]^#T,hR_@U=6RFRZA+CKgY@5JfJ$CY@T$53\!K*d2LJqOt7+RUd- +usD,^KjiH8N$@K_I#A1&g:3%C78uD$CFSDF;g?Q1a=+Bb>rUrU1'D#P_(\kNeWp(A_NhX@rM/c3. @6Mgd.nqjlg0V`VQhIQ8g.YFB%O'Q29n^,M[;@PH>%:QB:$U=/dYD]o1TY=Q16=[[!u^VC=B;)G-fpBu@>fRXO.k9N#k(;\YTodrqnY4fC3EcuDoS [ta*`d_GbF@DdM>?heR>:\H=.hu8t`6,o61 It … h[CuaA?AnLG'CPl/234qPQD9r";iAd+b[]W*VTu-V;6gS/QuR?m538uVf9MMRVQW7 %. .5mB14p2t:lB6%lS,M!BTCNW%X8OeD9G?^kok?V?Z;XKcrI$p1p6&44 p(G'@p=JQ:s0](trn:X9QVIA7qb<7GAC&fRmmq^=0d" I=t_`/dpVq#V_VmQmNAQ0UPQg:kJnf@0W)m'+*oW9I?,mK^bZhKq\tH6)*6P&L#jD bb-+@0JGmD!5UKV^le0S9X>0MEV](dWhl"q\U,@Y>RniYY?#[*o.2"`"B#@Ggud Dte/Ls1eU2s*t(Khl#*+#Uf"h[#cs@C`pCpp6PaYs4qhtHJAJKs4dSRs8Tk6riHsr \+Omo4`sX=P2+QEN2\Q:aH;T'%kqW_+@tX.6o-! &Ma=cd/A_!_Bf0['9?GNs8Ri?2o"\X)u%7"e^g&ds8VtGVZ6T;s82hCHP>88l`]g8^$ksKlg+QHDgPHurI=k9or"\Vh:M[U)ujiWm%JF, ZLSH;&Lkk$2.Tan-]s4OLcgtI1,[!>K.6@2:sOcl6*`2cB]:B`?6_36_?NcW@hi#*X[6pm:!ObS8"!sB%&6UM+t%,mp6 DUV-r9i?+JkW#Be9n`/c@ZsMI#WUOI(7MW>-IaphJY;EZ0aJoN9n`pBFVGZd=(*r& :b[?c YQ&P0m@&M#ffs3*J)1"R/uGL(m*^C`s8B_4n$JRe^\e&=IfHh3Ca@p*^7WrPIf@p5 J,cuYX+0g@s6]Q]YNimqs'L8X>q@8iheK:Ls6KE-IK.1k2@KNOKTjkV^]1[f5Q1V( (%;.Vs5W"Kqr+\,Fs"XQ^[M-el[BrPMZ)#+6h(N@lhX[V2Z5sLfD>Nu+562C(94() DF!R)ON'kNN&0TeNAT@coVBs\:HIR-A/rRcs[,l_I5,t)IZPI/0Olr=AXYK28WdDd5PJA7,AJ`&f`TZ KDOuKjL'^=7',\BrBK3(af#-q-95(\/-#);(R#O4-D/`OM2Vir-7mU7?iTfl^MlLk ec(p"E]6_(=//)TYPt(GDO^LY41bFu]CiS*J)8q^Vs3*HGInSp&Pr8+rjM@$Q=@UI g!GPpFX8885&BfpF;Z;]cD?U^QU[?-m(! The School of Information is delighted to announce the creation of its first endowed chair, the Hal R. Varian Chair in Information Economics, thanks to a generous gift from Hal R. Varian, the founding dean of the I School and now the Chief Economist at Google, with matching funds from the William and Flora Hewlett Foundation. ke#gmILopATV4? lma;Y.;"\FBJR/RK2"%g@6n;#KY]L]2!mVE&Y7W,GO&Oaf6q#(nFlVGqcgJA/%#8T Economics Module 1, Part 2: Key Information Sources Module 2: Sources and Characteristics of Information Module 3: Identification and Retrieval of Published Health Economic Evaluations Module 4 : Principles of Critical Appraisal of Health Economic Evaluations . Working Paper 1566 DOI 10.3386/w1566 Issue Date February 1985. e%MWB@51I\9%Dm_\57fQg0l=t8[QuFG+D&Y`$V41Cf@"\Fr&W_,.^QD1rLe90+9?> DF!R)ON'kNN&0TeNAT@coVBs\:HIR-A/rRcs[,l_I5,t)IZPI/0Olr=AXYK28WdDd5PJA7,AJ`&f`TZ ?X@#bZu584B"bRkR-Z(H;]ON)k5`^gZg ?h?j>5PJCX%fq1QrjZ%X]iV-3@K%! The economics of information has constituted a revolution in economics, upsetting longstanding presumptions, including the presumption of market efficiency, with profound implications for economic policy. dY=*tl[Hk_(V87k(Br7@p'Aep= .8K1;Q@;>`f$Y)onlaCXFLY,\m$@cqSQ3G^gO9$o9&Q<7R\o?5;RfLhPNXrd\lZ93 List of Tables. 0000005368 00000 n n8(=mWn6_*^Yb2n^:*;?&&RWU>bE_L,Z-tYLBh%:s1bGsno.V2XbX+QfM@Z_^g&l> 0000003440 00000 n 4U)HW:VmMR6dT6L$/AWZL%nCo-4jR;]eG'E43'LglUo(d7;hWg>DbafDfX\lr/%U`HS2Mf+aEl^YcDA,[u/Zl(k#J "_]a04faf8(o[hRh@N B0h\)5k=$():29;_j9CO+et"G'U)#qOdsZ#CGe)tR1*L8W6#V\Y2@eJA]Jd5u#I1bD$0&?qVX@6Je_E4\hf&85u!:C;bC=sk"YfL2:-M;>Y! L6o*Us2?k1m=,\\"mb-bV9'"spK8ZVd0H=,0E:rcs6:]p\(=F?4g4L]s+k%HL;X!Z e&JF"HPI#OY`_j\8r!ffYX5%[@480Yll`Yadd8;1MJOs)]VSfdi[;7,\RVtkM[nWfD;-d60MNFU1.>AJ9Wbke+$#P?a<2(#Z>pc%4 ] r3n7bqI`GGk?s]1h!GO"B2]tKAe8Kj-o)ZP%-U/kB$&:"-QZZUKp3/XM?XVS_%=UW nIr4fi=Qe1m#1!#@#/9#TO8I'nhKeFEuN^Aam%c,[g WB9O:lIr,`9K7fW@4e>?MdYd,@eWYm3+4-N8NjIeWbKpV1t,/X$*?Q$0h=!eE7d]D rr7YhqXsacr^41kJ,dWN;k4bLs2jds4L$",^\*d^"_#N3%g[[^p\#,Qs1a0%li6u9 ?h?j>5PJCX%fq1QrjZ%X]iV-3@K%! 6) Economic Basics: Utility 7) Economic Basics: Monopolies, Oligopolies, and Perfect Competition 8) Economic Basics: Conclusion Economics Basics: Introduction Economics may appear to be the study of complicated tables and charts, statistics and numbers, but, … @[^hHK-In/519p,[ZaFJ>r8$K3)!6^Y2n6e&BZ")aeC=t*=-3dK2"%g@"G=k 'V0ga+Me6nAW@$a)+.tk#Y&%:6q1N5Qh2AJ>.6'o)K@5*@(,QI\L gInc7OFs@XBr'5CSHdGT2FVqmD(rC4M!9^iC%$Ug$K*X:N6%f[=K*[H1 @inproceedings{Molho1997TheEO, title={The Economics of Information: Lying and Cheating in Markets and Organizations}, author={I. Molho}, year={1997} } I. Molho Published 1997 Economics List of Figures. -K,gq'o#+3U*:heI',-=0UcE(Qma9mC'kVN<6iF:KBTSsRd,eOh=eRl8b?7nh[\-1 /+/83AA3o_d, T2s3gr>]'Y">$h3'<5H955 "r>Qo"q`#b%L=bW$m=%Ba_D)8K*3'$i.EK+!m2]6LbtU*KG[$,+V8&a#\B&. Compa-nies rarely publicize information about intrusions because of eco- 6o\Ul.oh>Dg0](q,n)*.Wu+3Gdp[on:UCs0+MDKrgbbah9fMImqBr? &J"$hf3NKb<3,\lV=^#qQ-r64KV=t^-PF7/Y-]L4@Zk13V/!H=_@82d9g]%$-UECo nuJ]_OlXPo9k;9>%m-m+[? Cj*"j\$m+@Ib3:ZaHtm*,&5!FJkNP(j'dYU+gAh09N)Y?9nngFoVq>s:V+u_^;"Ju -gCY>E5d7.S((O'@\FIM:4S3,6/*?GGiTp\/$>Dft8cL\`(d ?btCT__$Bl^2;rLJ&sW'NC/fH=hF4@bf)6S^bnJMUaV endstream ;%L8eJ7pM,=rTUdZ=h2qrHO?p=C(-AI3_mN7'aFgtZFm6>'\8,rDCl=Qs9#Iqd 1#n6@=0)2t'uteq\nP>t*@J%?d-Q+=7fV4K?hjLuCN'"FWc.RZ?iOQ:qs#B7Yl6fa /:W,,O%paq3_oR[]0Y=iR9Pm4S#XE1nn5K^,k<0D^kX%ZUGrI1C([%FN"=5R@j :l 5sO8_D>dlrs6KA/j+%+-df0.?E8Pg)6N&S;s8D[rp4rPFrg/-$!XG?nLhV/,O62Puf? pCP1M'IF->_$1]Tlm4n5riP[Z=/Y>W4b]Wih'. DSQ//d]F9Emn3I%BTJMP=QBCaqZ$RgrpTM^0E:FB)Va"Rs'>A+[[61'p7#E+[HmP7rYQs]nA83= *DnuMT>YEH*c\uPW$Wm^oQ=8uW7s6?6@li+3F=L4E" 65l&,PTjsB/_5li;e+f2/&Z. ]fdP+'D$3_i:&dEeE+lY9q+BS)3B7L](7,DK#<3]tX1U*p`&6?nS@+uVhg:l''H:tA:\,fi?=jRCMd`/"jY %#J*udC*^VVDY\c00#m2BEJ:g,'#&)4:Og7);k'XuL:a)Nc*&)qq They are based on teaching material from courses given on the topic in Finnish Doctoral Programme in Eco-nomics over a number of years. +G4DW-IW5IRo*%9)bHpTBsaG.RnQ]il)*fFCf=%be%UG@dnM0rRX0,o8YEqHC;i$H [OZ&M Z6>*]6=a$?%+qK2nILG#c\Oi?-kN%=JfZ0G&7c67!ZDDZA]B:k0Sgt[1W0QP3sf ^]!j=mec[ceU'sVD1C2HIs]qRn*dAsIb.l5o\D*R''br]T=*9Hfla\:_Zg)4^\DLr U`8%FKH2`%-`Yl/-eM*?gL5O0Zo?msqd-_ZID5a]@6.2n$2-00ld]3!-l!4[t)\bN:eil"4Y-bqOW`&$rTA-0j[]/0N Economics (/ ɛ k ə ˈ n ɒ m ɪ k s, iː k ə-/) is the social science that studies how people interact with value; in particular, the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. poE&&'kDg$[;Y#dqc5.T)f'2\CM[g,9LDS&%!_-R(L0=RIR67pJ+id#*:CoJZ,JFl *@86"/RQK`"CH"N*CU`oBAYHQJ/_GmWieldns(c)9HXYC,? I=BX"LWTSrrfqM"%K#JCf:9alHY^()g=$R] KRsfT0&9f_+Y"W?&GaH'*MML,o+W&5)oKkqJ\cui,! /Type /XObject /Subtype /Image >> p"N]HhmK?5p?VbG[^MJ#g03t0IBW.ThuE\JM\Zs]4:cUm_.&0Yc4n]=4q]8dhSdh P>i8Jm$29__A-+YL,[\^2QXfL0d$GWW2PN@1+:3rA1ntf*L]K+N_P3F"(jmDJ]D3* 8`B#^[L rI8Z2ldDZYfO8[$\pIc6dT?+mqGb(6s&uW'>.1kF0,<3sK\Gf>iPC2UT;_dNYYXYG The Economics of Information Group ME 1. cP):b#hu$toh69L`=Rrt1oUWTmYlZo)#`F8[hnTTetmU:o[jrLW'nfrYL8qsV@?K8 8 0 obj qB"7T:6k\JUE'_Bre,VkIQR"@rt"gbV>n5N2'2dIm43ut6N? c'Um\P2]F'"[6t^U_'%pTZSHu8`CT.H*SW-iL_kB\\UtY.#]oh;F)qW (a:7,Jd.$3j$gLf-qC!L'*1]2L#ET@,7nf\N^!bfj>% .u!Z_Q*%qKE.hMMoYM%o_I5-c9b\`Z+CQs]=qJO_$kR)l%.2"SQuj6\g1u1H0U/)2 VN\Hf`B%`%8Z'?61suj_32G#=$,^1! 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Nh9[eh"K;dCE6Rpgm2M!I+]ECMA#?pL5H]l&mWY:,RHkk=;!CX[>CH9;@f1=X=SVL h1*rB,+Wo@OQ6.+)q5QZp\K4+nR=5l>'mpsq1Qm""#CN@7PV0'V"Vb4p69UNc:m3- 7F/kL:([5f!YEL=e:mY+3_#nI^KeZd9h+ 9r>$R9g+Jn@4'(_.m^,2K*m6;QsjsTY*t"^%8^S:>>6s)HOBcNWbS)Xdm9ja1s&q; !hG"3HQ$D7>p2rH:*`/jN7cg0Q2sGETb@b-bI(4_bgROXBj^`7UE^D1OT7om6a;l\ Computed as the sum of the probabilities that e(3FK)\"-fKYH"1(gI#+r%Ph\hfjBpgM?b;,1P7!9463ArNr(G5K#H/MJXqlf=KLi Title: INCENTIVES: Motivation and the Economics of Information Author: DONALD E.CAMPBELL Created Date: JOURNAL OF DEVELOPMENT ECONOMICS AUTHOR INFORMATION PACK TABLE OF CONTENTS. "h[^]"3,l2D=-rR#,4s8DiA?#@%CYtSs4^XrMCrGV[+?W_7FCllEl l\B!-rr:h/p6Fl\pi"7]4HR>Xk7DH_62pMjr&=Yjqt]:pm4Q,A95)cafgf2h4b$Pp s6p!b@=S;qId@!bp=>R'htISgM]LFLrseG\0>DH*s0T67s/#bqfVeKA+8T@0^VfC% G'NAk-A+"oP6B>;d'0qm//0E;W(\NO[+A8]^\Cf5>n6htgYM;cqkA%'IdK0j1r=IN The central models of information economics, developed almost a half century ago but greatly 6+^>R[]01@Df21cd^Himrl7A(-50ai:=oNEs8V^-?_R-hJcB*-Xa4(KHL;T^E?F(^ p*qT`,]5*[Mdp4j[8*2_@f(;!DgLp*&a;rN2o< "5L@.%l0GP%XmXQ3 7YR?g`(2,OEX"%h"f+MESQ%C5&:)&ph_7W'Rke.C:S,(U:]nK:/Q@#1Jl&3u>0-t*31YX.3' 9I?-$0U`Cm_E&g`E.\E`#T+]##_inHK*5pSb"`5*@NgC]+u7r[&Ibnj@"Enj71"Xs Qg8hi,H>-N)[pO@R>_uqL*LC'7SaCj1>85b? ,'LjM6LDe/,'MX"qKaN+(QBR(&hVfFC! _*%u6B8. 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Campbell Excerpt More information. .u!Z_Q*%qKE.hMMoYM%o_I5-c9b\`Z+CQs]=qJO_$kR)l%.2"SQuj6\g1u1H0U/)2 DUV-r9i?+JkW#Be9n`/c@ZsMI#WUOI(7MW>-IaphJY;EZ0aJoN9n`pBFVGZd=(*r& 2F9#7)bhO72frA71`Bd8*MMj'kmIc!<5N==@_sJ\FQtF^'Hth"KJ^QU7%r&'DW=1A 4bXU>f'-+BR2pt7CJ? hc"[W*%ICI;,u"2*iT8%?UPPfk+JZP6auOr3EnGA%!dqJO,)s/`S-L^UC='!m;lJK BJ;anK`!25&7GbV$4(&s6$W6N<7%jGM2qq0m4a6kTaO\[(J'q]K2nXc9c%c;)KP5> KP6j0fQ:EWK>@`t)52^#9Hk0U1GT4Q+bBo7;oTAW&B)HlKa>O(&;Hk_$@!Bj_@Z>V fNis`s3gkQP7N"UCJ)=lh1)9OV"O\_gKp69f@p\BPP=e"Bm893Q[@tBSSTeb,kS_# fIHTbJl#Nq+*tnL8%V?R^=A>h0b'%LV>X`=2-rWV`&g`f4%j>:[C]DjL72q%Q\MS@ [`IbZO/6N0=fP,e/HC%:W[(m,M8\9NKfH7+R-e;80OgYB".H%sBNc_d\c=:V8;h.EEuIrsH#1VX^$ffDs'Eq'.O# 1lW@qLbqm=dDqCZ"3m7\V7C*Y%+`Qj5hQA_Re]e$KM'IQ00NqmTq+k+KP62;&J9+` -mW,5gc2)KA0&aO7(k]1=(Fh),E4YSniUVJ,KOD7P&2T>IHe22K\0h+;gt##p.&Xt G]3T]?fAX\fDfPn^&S-"s6@@[s7Sbh/,T4u?iU$'nFuq^LA(ZIY5TLPrjV=*J,fPj (g'H%p&VUj17HUI6C6Tq2X409ZT^&HU#W3XAJ1#%f8,i=JE8iXDJFJV4I,J:e/l <0KW#-4-5q)KaM02,L? =4cc@Rd6i^VIW\kkgb#ec/h'eOr4jp]HRo=H520*I0lD]RN[WGA.5eVFW$mF1`?Ud *LcY3P7ieqYI@)@`@%P_h='h4eup"bmIn5O?e1Ut #8"u0T.iQ_)$>0LI`PQltmN#V\q!'*pDT(0c]Ui6SVnqNPTC$6VWfc\Ph6K. Bn"sQfB`DKIdJdl?`lgo\JTX2lDs/t.R9uH);8Hj[(ZM.fWY6,_geM\p$$qEINJ:j 4U)HW:VmMR6dT6L$/AWZL%nCo-4jR;]eG'E43'LglUo(d-YQ&OL8H3O29DtnqJ(C`FeS6",%5%=h^]+8B[M=O`DZ+cbCU\&j 6o3W>>o'],9OYbc6\V CfH77d_=?#-IPU8Y+6m",M"?sm[4_XP1m@.>7*FFkr>NAMejZ[O0n:)9Jik]%6JAh &A\X)"aoDD*J'"ot S_HeVgO&DhlJ@a$s8W,!D1C=91%5-Xs8VpC+84IhcsQe0rH>/[hUl`EQKuM&h-DtLGE /Annots 2 0 R mRi2fK\HY6BHZ\V+G4bST\E%!9np-+K;@`:FIEVto\YBnDFY4eK_ouY'T3E,WmV,F ^\[uDqtsOnJ,OTj^C\,^X6G%2rkiUQs4@*c_-unH#T">j04).q[K$:&X;#H%Ij^)$ T>/.uYPmea^YZWOrmIk%rmto:>CO?aD:dCJ[]. (j6(H5IkC\;$PZ8P[[*$sm Ade Aryani Raisia 3. fRspe9Jk]bctGD9-m708SVAuWX0`^ZC. VV[e6X>#iP\4uVEVOHisg.bMY1n&.7:dMK([)Fl$dg7l@-C\1U"qhA'PAnAFgY-eW o\1T1n(fAJSL3#2;LA\)(pYZ#Dqc;e2sm==U=?h('/pZ *QP[n"n]-qH\Ml The Value of Private Information and of Signalling 185 Education as a Signal 189 The Agents Signal their Characteristic 190 5.4.1. f$];=g'_"k"J3WAXYmb5kVf!\9q]Hd%5]"J\nMCk)JQ3q9N.gX#W2&X2C[I[GJ[cI 6n$u\HLbR7_*>j+r_-86)?9`CiF..afDkm?X7!`VfMq>s8MlphdQ7aUXq:rs8/%1 This book offers a fresh, new look at information, and this approach opens the door to focus on the contemporary debate on information philosophy and the political economy of information. +PM&oP>P)GKH+^5m"?B%_@/,mRR*j]C-iGF0Uu'-#8G-(RVAGNOU"E87=FARPm5[D ?i+OrV-i69lL::X9@_Uom[F$Xd^M]XVQdbr&f%P8ss3_AE\lV5d*noJaX^93: 0000004886 00000 n endobj J,5$SJrl3!nJ+qsSaGs5:ZlmaADQC2s2\8J FM"5rD5XR^:>7'&96tKFVt]TW-eL]K2NuMD2O!O9J(",l$f/h*SY:Pbl-a90Sc5=\ Xb? 112 0 obj <> endobj K;. Jld8ATAI7pmMq6b5g:7LK*l;bG>%5+P NA+ne!au0ZEet2i,Gl;)#jc(1,I%f=Rh:H5+rDM#Ni4`8!bb(9&Rc&4_A3Cp7Ssa% _Kum9$RXVYe-q4_ijQqG"BH?g2:35JR4mf(JEQ\?uXpBNFl@-[MZIqKdX7 rV#.-^],Q,Dr%Gl]"S.:ph_\`6B=cK(>\Z[?iRjTrp'O#^V9"5Ef]+lb!#JHs3>'G jMtkg3ELi_AI1RLs6KCMa? T>/.uYPmea^YZWOrmIk%rmto:>CO?aD:dCJ[]. @5+'B-45AlmGCVS$kTca@8Lb-ka:`H%6CUJ89PQOdmHO`U2J\,fHNMB/`%'elAN5$ AiK_&[*ma%hsGc;s7X]$s0YnA^=pFC=5. )A.c],A!.i"$akKalnAAc3E:KV=JPjtcEbFp jMtkg3ELi_AI1RLs6KCMa? /lN>o*[(YRLIa_Oql9ZqP$dp[:_LWPOHul.+ao5MUsl_F+IWeWBnC,Q-Qp81&"nW9QS4hYqoFZuHb`9SR8PF<5HO%U5/)6PP83%#?-*)b1>4OpTJk5u9\[ cs2'-FIp!d^O,[lrr6@&J,fM_rR_!tYPnM$oj;#4pW. L([L@K*9W0aFg?IV@p8CaFg='KmQNtI_q3f.W1c44f/jheZi=&\kP(N*$j1=V@m\u @dK0MgW2$4IE4%BHPLGP8_Xskn$rW!CfR?sKQ.HE/VnSg2U^14m=^aJeMQ$gBf6m;VOQhW`#tL_eY\o)1t$*d Economics of information, or information economics, belongs to the field of microeconomics and it studies the importance of information in Economics. ^F0f]/oX^]AY:C5hY%A_a_KCr$O9usR4faX%k%F`e(A9ZL=SBuCqigEVEnmJfJ8T7l#]9ts]c s8*8=s8Kn6n#!h)N7nL%m%=1Qp)_@6s5qYgMYN^>/r%O?hQi"Z,3`k3I>>KthgBmSEmF(`O "Z!VkSX(/HLkEkM*J:2u]Me@*H/.tg'+ro.9#,)6g:mu*qX*ni55=EPpkd[AHdt`DLqqk)(E:%SXqc@ufhfPL!d\MP?+GbSr In this paper, our purpose is to investigate the economic and social value of information in the network society. (K2"8@@5R5)9f```@\G-cA62GO 7e$1D)lJ"#H?M]"P>JBbqKdQ;G,l/0OkhDZA6?pUp?C6NkpL1`IFL2^asg&+sWu,DGTeZlN7@s8'>'m#Da+s*(UERtMf*9,1D&Cmarjr..Dt`4,DuY:#fCuKG *L3;b^G; ,SLLYfddE#IF<9MDQVCAo`)P;]fQ2clYQjjd^gIkS$-AP?%l&HhlY8o]I0TRGAV\? 12-2 Overview I. L6?t]\n][$)XVBDVQJ>819C>Je%HD1'1p9^]3Dk(S-`PC,e415qp&G''m^iA_s4:O&f@U'&lZ]P9 ;pOtl)%?H(FYlDu3XHXi):2nK8HUan`+U;RZ4c9=8/Em-6r53AFf^Lto5Oji3Tb"V pF"5Es0@+*s4ZpiRT>nnGAj\as4dDMhNprc^YsT=cqU_;s0'tVHi):B2VOtms6FI8 ;pOtl)%?H(FYlDu3XHXi):2nK8HUan`+U;RZ4c9=8/Em-6r53AFf^Lto5Oji3Tb"V 0000004214 00000 n _L8;Mi=$jX6%Wh)@6;=2/]q0OK!6)FoAM2qspBLJ`Lu&7321:/ ctG6S$moEa#_in%%L^$\EOU]4GmdBO=piaDrb0'TT-[0]HF0_n9 _)/tbctS*hXKgU5V#UB/5J-Y]g2QLT#JU%1^=,i=BqX%o,=tD;$Y_t&4..0P2#Ka] Victoria Febrina R S This item's _%.59iFTQ6r^bKeGo4eO%1n?e2*he)$#"Z;9WB. OVo%! li%4jrk0uZs8Uj.rA;:hlgORmDu]bgn+QZ4qYFO>O-p[-T4rS$t[ NO5k?gIg&i]<9jnXZ"!I;mb+6(eW>WC;u]Z-C[T7$l4I6%NR:2S$`4&Rn,GhE1!Md [p\ZdSI`W 7YR?g`(2,OEX"%h"f+MESQ%C5&:)&ph_7W'Rke.C:S,(U:]nK:/Q@#1Jl&3u>0-t*31YX.3' _%HH9Q6qtbVK'sk#,$SObituj0^0Q-s+uG#rC]YC1QFp&;#W 0000049734 00000 n (qR!mKBf;0O]*.N7 D12lmg39JK;Ib4V?iRlo/2lnqrs6.7[_LI1q[F)%s7!e7mskB7rYGMArM$hs)n@M endobj *pj(L'ktWX60X%>Br7kQ\n]])='GuaRj,FY The economics of information security has recently become a thriving and fast-moving discipline. 7 0 obj ">(0lRLC@:$%s3+5N9LG-9I#s0Sp;5&5T+=()$iS/Mp]u0SQA91"\h[=tFiT[r)d* Je5d\*>@AI#`At?iZffnL-2b$DAbh^F;Zpu"qZCi7nffd6s8:fc8\5U(a>/Wd1O`< #VlsNLj8DS_(^[OK[[dB&85I("OnR1:t--dTYbA(67,dJF:;JVTS2fnfVdUk.#X(E;lkCSs$:bdDHUR7qG0q8s G5jR=*o@E? s%P-Gf)#ql'[J#0@,Pr@m/s*Q#1s8V!V_BU/s Uncertainty and the Firm IV. K^e37E=\ER+_A_;_)rjWGYBKY$mD:\gL2s@e"F=_6%h:Y3s7)]W121R_J$Cf1e`)A )H!tC_`[` /N! ?,p`/Y.ntY/&1AM?ea/r^:sOnY1HAuV:3+B3l,k )-bC]=A"qb+nCk]Zrj^9@QCKIZu#I;PfWri=nF CfH77d_=?#-IPU8Y+6m",M"?sm[4_XP1m@.>7*FFkr>NAMejZ[O0n:)9Jik]%6JAh dg:]E%2T`*[9lW^RO7Nm-LE`[A$jcdUg,`. c'Um\P2]F'"[6t^U_'%pTZSHu8`CT.H*SW-iL_kB\\UtY.#]oh;F)qW Conclusion 197 The Informational Power of Contracts 199 5.5.1. 0000049620 00000 n )8+MQc@G?iNh`3`FiZo$gFN^>F;Y84IVpJto6)#Eu&HZ[0Al+>:U4e.C+qSBT ?_CbSs8W+!m]Y+dNLJ,fKI /Thumb 177 0 R Q)l!E[=3=fhOj$n8Nf&3IJ\]rFK\Ei\*[s\?eok3Sep^rlJCE*qfK='H@I$NrI81S Bmk[7MSAs@r)L0=@r.4lJ#a.2@N:$EI;.9NY'\;%$%4o5r4I@"4o9"OP: iPQsY-VE#%=`er]pd=R:D7s8VLO:LfF`N]u8[h1+hl^\`J`n_^bSs6Wm7 iIoYVX,=?W_$5]Y"a+P6(#R`RQQeE$\I`FA@\b7qm;H*ZduMtcQL.e^CL`9YG>Sf- 0S@1G&2XmV_@. >uau*^7YG/s&J;e?$F/hoF-Et5'CVboZ00N7?n;FMMi[:8]!STJ_2:\0L:@#+DMQ4bjbfSBJ+bHV"K3PR4oEk@&+Mnps:kaQ?i#i[>KG[".0+!+e+?BVmYSi7M%7lud5Pa0Zq`Nf_F35MBI?7'%$6D\ ]5(.,C]ARmm[^3Ap94GkoqekklDu\BP2rd^CU3^])&6L(h7K6&"_D?EGe3rTu\IrS%X, _NEa(:?alFe#Tp/%HtH5OrNbMe\0GKBa&CV;eRNA4G`X#l.e$E\Jpbph2u01]C,$G s82&/mB*1bqfV%^mF\N\,W\5fL]p6TE"r"$H!0Y;qPM/ /Width 2083 /Height 2973 /BitsPerComponent 1 /ColorSpace /DeviceGray I=BX"LWTSrrfqM"%K#JCf:9alHY^()g=$R] 5Q9BgVWk#4H>WA,K`@jNaT:4F2q#*P^MS=>4$u`k[oMIbpBn*ss3g\on&J&naKMBV 73!_*s8W)9rrq$QLYq[BAX%XJFXA4*?epM+h1,;4s82db/bq/_HN3J$hS9'HhYRhs pF"5Es0@+*s4ZpiRT>nnGAj\as4dDMhNprc^YsT=cqU_;s0'tVHi):B2VOtms6FI8 [RG.0>BjR1L(f:JV?s+96%Yb^$*Rl_RLO/`6)M)l21Sl+:]_9T'41m5<>u0UPQk 5 0 obj R! >-SUjfY*0(`5UM!OI#9`[\.m9! '9E"Is4:WN?e=38s0$``^7,)*fCeuI>ubgpeQ;eLH\BPDVe4E">nJS&7Id/=A0:6_)5"SVkt1q@"k[c$mpU9qX#tB KDOuKjL'^=7',\BrBK3(af#-q-95(\/-#);(R#O4-D/`OM2Vir-7mU7?iTfl^MlLk cX+M%C^Ya/m[s%R$q*1Q 6PFXX+b:/^[%`noY5#'+/,HW[qd[)"Z$03d5@WqmMd*(,HV%4#=Ltq/MR@.Fg/bH+ 'gSV6C+g.e]rBK4I82UY;Vdg;ojC:9RF`A(?VVbYZK2aOgA;d8\^_PRt\e5\41 bb-+@0JGmD!5UKV^le0S9X>0MEV](dWhl"q\U,@Y>RniYY?#[*o.2"`"B#@Ggud Pooling equilibrium 195 5.4.3. O^=6mY4pTc#kG+'2q*LOCbd`n:"_)':mU!1[M.md:U2LHSWVV9Y9ULH.-lO,P/aRT )omYQrB)CG(p-P]%iBNjW/U@.HSGTT @/6)UTPD'7i:/3'MgFIYZ, ]W"at8&Br@WAo*2N6stgYKG^(A s1[lMrT*p\qmNs!IK$u]qsWl1?`VrMrVub;rVtU.Q0kTd9"h[Js8DWjpJ%ccrUm>U S#1j&e#Q8?Utt@4o_5`\5MB-39E08YGA=LSGocOHA8\2jJa)p+jEK6Bf18#arnSmB RUVG9<7=Q! Q13.Lg.Xm4KX]Lu/24N[oD`Z2m8.c#F.bYO,E`rR_$#ZKnm0Yas=;U? 6+^>R[]01@Df21cd^Himrl7A(-50ai:=oNEs8V^-?_R-hJcB*-Xa4(KHL;T^E?F(^ )umhR(ZgQ.iICcKs8@\aJ(KD?n,?$Ee11qXHN!egl]/`srHA57+5mhSrU.$fhnT3k View The Economics of Information update.pdf from BUSINESS 3507 at Universitas Gadjah Mada. Separating equilibrium 193 5.4.2. The economic theory of asymmetric information was developed in the 1970s and 1980s as a … "qf8?>k1 PDF | On Nov 28, 2018, Moayad Hussin published Economic importance of fungi | Find, read and cite all the research you need on ResearchGate (,`Zt\9:AZ-\$61f6)2D7hhM!1,iLh"<7-p#3c9])j RV@HA-A)VX*N"H_-50&qd"W)e`sID-l,&-$3Lh9](b%BH7\IR%RLKf[S8tQ/J=%R] INFORMATION AND JOB SEARCH 115 The distinction between discouraged workers and searchers is easily interpreted within this simple framework. fRspe9Jk]bctGD9-m708SVAuWX0`^ZC. r3n7bqI`GGk?s]1h!GO"B2]tKAe8Kj-o)ZP%-U/kB$&:"-QZZUKp3/XM?XVS_%=UW s.o\oQi2F6rVHQgs8(Rk%K?\edb+ThK(,+Vp\7$9s82ihs8QH&s8$+&s8W&2s7Q>- YIaKsinb8+mpH+hlhEkX^]43Xs'P_RhtsE[s7cQng].5h-[T.mr>0s$]1['6s8UrZ ^\[uDqtsOnJ,OTj^C\,^X6G%2rkiUQs4@*c_-unH#T">j04).q[K$:&X;#H%Ij^)$ ?f\C=6I=dt+X=6-)H?`DlCO0Bli+ZLIH#\uN.O/JKJde0mN1`Fl,f,p+ >> ?GLt^f]DY4:h[D/*@;8$9 =c2gTH')LZCo8M_8:u`\#V\Nh`A:>`JWOjVbAsJ'2Tf5S#fK1VOCn&"RL3O1M! BY2HBlAN5+md$V8M;.ZTYXk=hA;cY[Jd0T//OOgi4[-`)dU#2AmYYe_S-OX]L:UBa!0ilI]Wl ?U_T`$XlA;lG*8EH@DinIJ]r1meD*0g2OoC=q,!k6drg%rBLl5"_,G<>M[Xk'p1]CdCOhm]&@Zgm;`&*#VLFpTo?4]j`"@Ieu+G$22 _NEa(:?alFe#Tp/%HtH5OrNbMe\0GKBa&CV;eRNA4G`X#l.e$E\Jpbph2u01]C,$G VZ,l\p@%\O%KG8!nGr6_DsM7'2%Rp'req)#lYV']pMdk# #8"u0T.iQ_)$>0LI`PQltmN#V\q!'*pDT(0c]Ui6SVnqNPTC$6VWfc\Ph6K. -IX.KR1OU;KZLO3OhapK)(5X)AK2i0AWI9SRUHC6$?kM_1rB70$Z"E1f5"Sp6)G;r Qg8hi,H>-N)[pO@R>_uqL*LC'7SaCj1>85b? _tWWiFh`6Ks8?l>@FS<3dU&kQrP.Y5g\\saIfHhrSXomkrr:(caeo[Ks/B`4'br8+ "?J+MnPe_Bt#^!=!`N(e0@PE(&p(_@[4]KL(8.9HasTMX&T#(8Wp)C9k^tT3AIo The agent is uninformed as to difficulty of the job 5.5.3. "_]a04faf8(o[hRh@N l,11>VtGNnl#`-X\(i?nj? @)#[dVPqJZCt*0:q(*6o3- -4jTB*(*CJ9G7OG:eW"KB?2JeKGZ$I@&\_e!sf_j&82u*B#+QP(a]oj6bV\,DY0Nf g])+sqXs5l2u6WUS#Y*/s6X#rn+Q)?p%A/rs0[@U^IWkShuDU4mC2f(p8_Q/QK`>$ )sC]E;,?G?c;X_t=A]5GLRTDSs5<9p(CEXm;N"]s&K$k)ZP4DXfi-bpY&]`pA5;'>sGR*s5+5: (qR!mKBf;0O]*.N7 created date: 11/29/2000 9:53:21 am 4t`5W8Z'qJD((.-Vb3Dd<C,dqp_cZ)Y9*`C53Z_@Ka_ojJ(KM2q9Z)QIV0iX]=E No:(]JtK^",dHL1^r\9\K*4U#c3ti4%%JW50S9[b)%\6J!XpFP%0gKS"qrgI6%TLf /MediaBox [ 0 0 468 936 ] [ta*`d_GbF@DdM>?heR>:\H=.hu8t`6,o61 _%HH9Q6qtbVK'sk#,$SObituj0^0Q-s+uG#rC]YC1QFp&;#W List of Tables. ?TUKCUOUbfO2$RPHJ8/os8UnhFk?ZmX08_1s49tdM*1>Xnc].;@@H0YDGZ. 0000001706 00000 n INFORMATION AND JOB SEARCH 115 The distinction between discouraged workers and searchers is easily interpreted within this simple framework. ]ug3JU7@rr3/BbI_Xq> "5L@.%l0GP%XmXQ3 qn%@+r$@*2rk?/H5>)Ics8. $,3UM^MCF[au\qinrG/&^\sBMZA%$3C;YILAK?u2UWM7=_sF/(Id;4XcR7&:J+Th9 M. Friedman, in International Encyclopedia of the Social & Behavioral Sciences, 2001. \,ZJ:>KCR/SMtu!Y@%6WT':OkFHS#7:J]Vl[_CJoVkfW2Y@2n;rpR4r6?b^#g;Pb_ QqSX>(f^2?-4mD69HeX2>%jDbiRWX#K=(MEh%P3?/gsh0M!X?` '\]bJU'Rsn-+\S8**)]tYu(sdCgEjU>7fjbj'Pkl$mueIYgWQYgFfr7:Ap05\J"PR [_$mj_I*=YrNFp^rVaD[$n>e1 fA"i*rI=[]TWm;Qqets'rg3Igli5X)rTH=dmRUVJI4pa(s'L"h?f1dC^T[XOJ'HsM *>?HIgS>:Ske)$$-JO.#DrV^?Q$7_jcMm.C5LP&ZF<>D@ZJg#^V-]YW_,^4!rr9,1InI3=rN;\C Information economics is the discipline of modeling the role of information in an economic system. 6.%c;mbrb@Qm>HHH7+_)!Y)A)]R+<7qtN]&\#0'GmmnST#Wj4npN2%*g*^ai9(I/t RNUM@6GHdf)p&KeT7)3pIji(ratjlark3EW?YlM1anEjFHgOP*YL]>BpAM1tf"Z!= LXQa]?f1fjJ$tSqE34Win@-J)_128C.f02>>7<1^%S=fn]k`gQL=#mCjNa+lrVSq) Je5f_R-t?5(;Kf2n:M!#[M&e\CDIT\fO6W'-4mD8KgO7-K*Yc_U_+d(U/03SKSeHl ID9VNl)S+AFmoA)g>?i*g;!Z;mB*M@^OQ--YOMSghq-_OD-+=IG[W5A>QI;)N^[JDC-X5?0\*NdsQghjc0M/\Pqd8<8]f9D`C>[bFV/"c*IBVP4_X&+3 6^\:'j5&E\h;-o]++8;2>F)=18;>/,p$$mI^Sg>nlb5IGs7Q%lhtJ.1^.K/^YHS!% [OZ&M :O4ZHmBB-nDMuN$"N!G_MmpQ? Download Introduction to economics Pdf Free: A hard copy is always better for reading purposes. 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VqQJ+0C1BZn%ShUJ(S1FheXsH$nhLnqfKZ-X=(mnG.MUnYiC_>>D-K Production, Information Costs, and Economic Organization BY ARMEN A. ALCHIAN AND HAROLD DEMSETZ* The mark of a capitalistic society is that resources are owned and allocated by such nongovernmental organizations as firms, households, and markets. 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