Value of Information
The starting point for economic analysis is the observation that information has economic value because it allows individuals to make choices that yield higher expected payoffs or expected utility than they would obtain from choices made in the absence of information.
Read more about this topic: Information Economics
Famous quotes containing the word information:
“In the information age, you don’t teach philosophy as they did after feudalism. You perform it. If Aristotle were alive today he’d have a talk show.”
—Timothy Leary (b. 1920)
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