Presents an introduction to the study of how information affects economic relations. This title provides a narrative treatment of the more formal concepts of Information Economics, using easy to understand illustrations from film and literature and nutshell examples. Series: Routledge Advanced Texts in Economics and Finance. Num Pages: 488 pages, 83 black & white illustrations, 31 black & white tables, 83 black & white line drawings. BIC Classification: KC. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 234 x 156 x 32. Weight in Grams: 839. . 2007. 1st Edition. hardcover. . . . .

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Bibliographic Details

Title: Information Economics (Routledge Advanced Texts in Economics and Finance)
Publisher: Routledge
Publication Date: 2007
Language: English
ISBN 10: 0415373468
ISBN 13: 9780415373463
Binding: Hardcover
Edition: 1st Edition
Condition: New

About this title

Synopsis

This new text book by Urs Birchler and Monika Butler is an introduction to the study of how information affects economic relations. The authors provide a narrative treatment of the more formal concepts of Information Economics, using easy to understand and lively illustrations from film and literature and nutshell examples.

The book first covers the economics of information in a 'man versus nature' context, explaining basic concepts like rational updating or the value of information. Then in a 'man versus man' setting, Birchler and Butler describe strategic issues in the use of information: the make-buy-or-copy decision, the working and failure of markets and the important role of outguessing each other in a macroeconomic context. It closes with a 'man versus himself' perspective, focusing on information management within the individual.

This book also comes with a supporting website (www.alicebob.info), maintained by the authors.

About the Author

Urs Birchler is Director at the Swiss National Bank and a former member of the Basel Committee on Banking Supervision. He has taught at the universities of Zurich, Berne, St. Gallen and Leipzig.

Monika Butler is Professor of Economics and Public Policy at the University of St. Gallen, CESifo Fellow and CEPR affiliate.

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