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Economic Information, Decision, and Prediction: Selected Essays: Volume II (Theory and Decision Library) - Hardcover
Book by Marschak, M.
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Text: English, French
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- PublisherSpringer
- Publication date1974
- ISBN 10 9027705453
- ISBN 13 9789027705457
- BindingHardcover
- Number of pages374
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Economic Information, Decision, and Prediction. Selected Essays. I: I. Economics of Decision. II: II. Economics of Information & Organization. III: III. Money & Other Assets. IV. Economic Measurements. V. Contributions to the Logic of Economics. 3 Vols.
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Dordrecht & Boston: D. Reidel, 1974.
(1974)
ISBN 10: 9027705453
ISBN 13: 9789027705457
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Book Description Hardcover. Condition: Near Fine. Dust Jacket Condition: Near Fine. 1st Edition. First Edition. xviii, 389, [1] pp; xii, 362 pp, 1 leaf; x, 399, [1=ads] pp. Original cloth. A Near Fine complete set, in near fine dust jackets (jacket of Vol. I is Very Good). Theory and Decision Library 7. 'Attempts by Marschak, Albert G. Hart, and others to clarify the concept of liquidity had shown how important anticipating new information was to economic behavior and launched Marschak on a series of studies regarding the economics of information. The value, or demand price, of information in any context was governed by the additional benefit that could be obtained by its optimal use, an approach he initiated in 1954 and summarized in 1971. This subject, originally broached by Marschak, has since become a major research area' (Kenneth J. Arrow, Biographical Memoirs, Vol. 60, 1991, National Academy of Sciences, pp. 140-1). It 'was Marschak's papers of 1954 and 1955 that made explicit the role of information in economic behavior and organization. Specifically, he considered the economic problems in the acquisition of information and the role of transmission of information from one individual to another in a cooperative organization. It is to these papers that the subsequent explosion in the economics of information . . . can be traced' (Kenneth J. Arrow, Cowles in the History of Economic Thought, Abstracted from the Cowles Fiftieth Anniversary Volume; Yale University Web site). ISBN for Volume I: 9027705445. ISBN for Volume III: 9027705461. Seller Inventory # 10780a
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