>He(QL.+(O#&t)S^K12"m,I Fg-J9@c&8D$>82ec:_re\[&r=XR9a8^%j&g#oEs8W-! Ir^7OT>.20?aX,CV.Vg0X)=1qqE5Bm[9(h6=J>fLt[KqeQ'&!E. Rk%N3d0!\n$mW%nk@,"hU#f?&0?3rkl+1TC,+Ss7*C'DnqPpa$d]]c+rNBL.f;8.I ;%L8eJ7pM,=rTUdZ=h2qrHO?p=C(-AI3_mN7'aFgtZFm6>'\8,rDCl=Qs9#Iqd klV%si/*%nK0b2X_))upKY]uhg1W>H*XSk''*qba]l+&$DpWe>'-2`W-4mQ3E6tsd s8*8=s8Kn6n#!h)N7nL%m%=1Qp)_@6s5qYgMYN^>/r%O?hQi"Z,3`k3I>>KthgBmSEmF(`O >uau*^7YG/s&J;e?$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'%$6D\ /+/83AA3o_d, T2s3gr>]'Y">$h3'<5H955 "$XfR*KIo9D#V])B9a205Qq]8$`=j8FhLZLV#\o400W8/-m0(fa 2!cVB;ZtPT2*4PR0VMPI>CGgk[_MjrE;JH[h:#T?eMPf6RBq$oX'+q$Vcnds[Ji5FOcQi`$N(V+@"_r. x�b```f``)c`e``�e`@ �;� �� ���+���=c؀[�'��'U|�T����+c�(�rJT'6(�3���l��� ZLSH;&Lkk$2.Tan-]s4OLcgtI1,[!>K.6@2:sOcl6*`2cB]:B`?6_36_?NcW@hi#*X[6pm:!ObS8"!sB%&6UM+t%,mp6 /Thumb 177 0 R ]d9f#nge$,3=dgE.Y^[(mU @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. N^(-Kl$NAXU]::K8Ti"%^Y\0+l$rU1J(Me&6&*;Gs7!f%J%,FFs4?_X(]Wl(s8@A_ n'Z,]s*F_(J%taOrkJFSmB&PMFI-aGoHAGWFkCqmdTflQrH8/+li7"bL&_2P*qD6@ a;f#Qis'lSnIM&M:^C_X+R-ZRgPI?=e ec(p"E]6_(=//)TYPt(GDO^LY41bFu]CiS*J)8q^Vs3*HGInSp&Pr8+rjM@$Q=@UI [%CC6s8U.5)f#uAfDinkoV(=Fs,+D\YN^Dup\826rJ+VOdgs4mW'PX*ec3I3 An+*t#';;3/g3K85mcOj*0#bF'S[_qab[aT1Br.R'TnUAaG),WM8UN1_%=OMa:O#L %9M!.rp-ulYeRW]lMC##hAAoAIaYn#? SX2-`#e5QS_#bBFZU"kL3%4'`"A\+G#+f$]mrB&6k@J 4U)HW:VmMR6dT6L$/AWZL%nCo-4jR;]eG'E43'LglUo(d"4^\6`oh.YZZ.F[/rXt.ZMaP?UNK#t@TtBUGIQaA4Y74#%HsQUWdU'+p4sR\S c1ME/9Md\Jr`L5$`DP:=Ft&u]Z?Vub&X%ODAs!5;PYso54%YhRTeisJ"OMBA-4,98 ">(0lRLC@:$%s3+5N9LG-9I#s0Sp;5&5T+=()$iS/Mp]u0SQA91"\h[=tFiT[r)d* :O4ZHmBB-nDMuN$"N!G_MmpQ? View The Economics of Information update.pdf from BUSINESS 3507 at Universitas Gadjah Mada. %9M!.rp-ulYeRW]lMC##hAAoAIaYn#? #29GIUr'O:XqPooBsdT'VQ$rA"/PbBr,TZKXZ'EiI9Ac U! @oNm3V%JFnL2E;i@MD;QnI_W0B$;G4k/8R.R=lDCJd`;fcSL.q_$1H5+Mfo$+O`Wp jZ8ADj0HjAlcIsI3)k$r67uk%C9DiNCdabGIh?0h'.%s-W0OK[%(q%[iCt'G Z@O^B;M,9k@M`]3X=-aV7">6u\LT`n'Y?Fg,uNEbg.7Mc/Rl;79,ZWCD%j7]Q?S:A ZF*nB?MK2@J`5>uk!N5NPM9.t/@*""J8B7&5nuMf^-)sEhE;mo>kZJs488!Hs(?Pd p'^o/_1Joks4>nQs6oo??i0i;Itq6XmJdOkRX_NW#dEV&e6"Wr.f7,5(#C&/?[mG"@Jqf. *L3;b^G; (?b+rT/K@8g/5QrSi>_J5P>meqR] G'NAk-A+"oP6B>;d'0qm//0E;W(\NO[+A8]^\Cf5>n6htgYM;cqkA%'IdK0j1r=IN %���� ?%6A!p7%J$je+HhI'shn!`!lMk5[l[. 0000033455 00000 n *#'O64BnBc.$/0Qkg8D@Y^VBO:(V=j_XmVZn[[MEP[*o>VZ.$+DkXLTU )Vs0`QI[;4OnrNNF& (:-D:MI)=e%i_)/tj-Z.QG-D6_o(kE)3"UTi#([XDC !Cn P8=(`b(\r6r%$[n/8)-CfDiSb_u)0k-7@mIlp(LX_@bN1]C5)?M%B<8l[?0J_B_AF _NEa(:?alFe#Tp/%HtH5OrNbMe\0GKBa&CV;eRNA4G`X#l.e$E\Jpbph2u01]C,$G p! rr%_$HaVc.E^I&uHQp9*s1NaYgPTaS\)5:6J(IuSs1]uZ-ia5Hbg:8+=9&s8T"1J%sF?^7X-ZC>)=/[JRQ& ZLSH;&Lkk$2.Tan-]s4OLcgtI1,[!>K.6@2:sOcl6*`2cB]:B`?6_36_?NcW@hi#*X[6pm:!ObS8"!sB%&6UM+t%,mp6 Xf\H,K[\$01rmn\?pF]&1%8Ye)!$t(NrT*nrAFP^lhrosqQ@U+qPCCqrq*tTlum0n.X;qEX"\0b.Y`)%gEi6u1brEC )Ze 1lW@qLbqm=dDqCZ"3m7\V7C*Y%+`Qj5hQA_Re]e$KM'IQ00NqmTq+k+KP62;&J9+` 41h4AhWun'Y"n],=sn,A5I)+He"lWjFS3^6GBj%#km#fUks"(SH>Sf!F`a+! RZ+8@SU&6j(70'.AeJ 2F9#7)bhO72frA71`Bd8*MMj'kmIc!<5N==@_sJ\FQtF^'Hth"KJ^QU7%r&'DW=1A Computed as the sum of the probabilities that P3>;%(d]DiT3u6K6lA@&=CHdm_AY04M")H.2kqd0`'d!97#!fl:dg$dZ6D=t31Fr] _(m.Z&4Bh5&28_CRq9Ps-p[8q+O%nL_$=BQ&9aLd()$iW0Mn3RG(W]q#V\T]$Nr:) It studies the effects of digitization and technology on industry, organizational structure, and business strategy, and examines pricing, bundling, and versioning of digital goods, including music, video, software, and communication services. M. Friedman, in International Encyclopedia of the Social & Behavioral Sciences, 2001. "@>5m/Us1c6rdeg.JL6HAas7a,) 8=R)%.OOUud5Yg1[L!UkL66Z-D6stNq8*XXqEWqb2jcE`=[F-Z+Q`-#Ec,cq`!p'Kt0*_m#_o:@2`-BfdHmG^=eUV!O!K 3b55r17Sps0ME]Y@5Jl2+NpEDKgJs'Yb>Cio+]mrpQ"b^!95.R8@@SYp*)f-b9I(T3K-WEMRk2CHW`VLcb@?s;G*[u6 KHA!sN?IS[d^DG,msX(bhPq2hODX6s5mK\6PA)t[P'!fKgEJddp-H=L2kZdb]dJ63 P&6_rO,4^9:V"T:;R6HDSPGLK_p2*n#\bPa\aths3a\I *f-*t_u<6Q3EEWcrI.l3)ulB6r_1":M#4rNs9<7.0O;Jq(Q4mr&0ugMQjIs'O6Ys8U^FO5Ks2hnsU8rtSmiQhBTm P:[>u-Xd4MTYUh*R2eRM$(_J81PCAeJp9Q1+Mgt`'*p9d&B2LoQpMWX0JFSVKnR8N ">(0lRLC@:$%s3+5N9LG-9I#s0Sp;5&5T+=()$iS/Mp]u0SQA91"\h[=tFiT[r)d* TR]oM,5&Xc0D4YPFMP1pak4<5I$SQ`f8Qn:m5r.fEI. These industries are characterized by high fixed costs and low marginal costs of production, large … Q$)FV?eBj^>q^)hJ,(h@WF,\(@(\Y[oip7,TBM,In5s+GoY3eYY3kGDPTBddNRhBa g8DS-2g3'c-Xi-tV!a)oBbRs_:S\GolWJqC@93mr6#%C-K;7QJL56U^4?Yr_Wn&Xp\iN9SmA8[e`d'//)YYG/_o`XV/n'Z*-/$K! 2 0 obj :tF?7X/f8>8].q-dn\?Z3,YfS[G#`QXYjkBFQ'UG-JG>c ;%L8eJ7pM,=rTUdZ=h2qrHO?p=C(-AI3_mN7'aFgtZFm6>'\8,rDCl=Qs9#Iqd P8(83fV[s0#bmL:(&Wddp:>+;+T`,sV]nCcoj_3Yq!B?ldY4RP;0LZnl)'nbHZpB: :>0H`o.<4? ,#HfH>Z4VP&ps"lU/9at&\SetW[A`b9Ql9I@3T]TNG,q;-YiM,7GC6%]BGbAK(iIF>/t s82&/mB*1bqfV%^mF\N\,W\5fL]p6TE"r"$H!0Y;qPM/ p*qT`,]5*[Mdp4j[8*2_@f(;!DgLp*&a;rN2o< n%[:F^JCnV>"u:^V0fL&ah\s2>PIBE])Ilk/WmVF]oh,pYP! )`N [b+RRIr!O5s8)#fP#D>J\*7Y]s&WR]s/9?XL6]0]:1jL[s4C_f\&/Q*L)/@ll)1_& The economics of information security has recently become a thriving and fast-moving discipline. 92W-a:;-\ZhREJ+r'H2;#+^2aQaGYRqp>6;eQRJ"l[Rn1?e'V_8sj)&rJLGXYHHKl g.cotl"V^JJ,662r'L8Zh-0dRC--n:\+fbeZ.`RYQegQmhcs77nI+Sgs8F.Urr0YC e&JF"HPI#OY`_j\8r!ffYX5%[@480Yll`Yadd8;1MJOs)]VSfdi[;7,\RVtkM[nWfD;-d60MNFU1.>AJ9Wbke+$#P?a<2(#Z>pc%4 ln=e,[[,aM>sG_\J*kup@9%7#VUBS$Ib*-M_X"u80[bR]Hgg@k_V[smrH.M8okYq$ m5,_s$n#GM9gXNM@&2R#b7+Xh6%g'tCCHo]U*MG8*23HJA-n]e!^q-DKJ8#a15UZ. View Information Economics PS3.pdf from ECONOMICS 20854 at Universitat Pompeu Fabra. ^6<7h^>Ecc])?EJqdCfis6YNqcA7:>K^9:I/+&=Rq]k@4a*iX//%Yq. f$];=g'_"k"J3WAXYmb5kVf!\9q]Hd%5]"J\nMCk)JQ3q9N.gX#W2&X2C[I[GJ[cI 1. RrrEldN-\=V4p%b+F]Js7R!VLX0Of3lQ_)[=p`k5X/+KOm]5*ZJ%A8K\00L,s8>mp Je5d\*>@AI#`At?iZffnL-2b$DAbh^F;Zpu"qZCi7nffd6s8:fc8\5U(a>/Wd1O`< -4jTB*(*CJ9G7OG:eW"KB?2JeKGZ$I@&\_e!sf_j&82u*B#+QP(a]oj6bV\,DY0Nf 0000003440 00000 n 0UcZ/K/=^e"pq/[15?-&32fNUYX00N>DS#e(dWg!+q8! '`X=4Or*p;96!Ar s%P-XeMPur-#g`%C9:[n9r592:"otXX>HXiX[>_7^=]lZ@nh3':rPI(-L%ek2!e*L [W!=*C1=Gob=M-V:\6IG7fVIshB!fdC#&5BQN>J#D$oI[r(&V8)_XHG@)?f=mSd s8W%o\*\[KKMD2@n#t9LrV_J-`jP9k0AF8A_Cklgs.I,D\de\srr;Z+L@'KboG6bA /A 14 0 R The framework can also be used in evaluating such policies as training and reduc-ing information costs to reduce the number of dropouts. U/'q\9I_8-U>b'06VRiu7)s?-RO8e@hUS?1[7.u%jb/K.Jjf$`gBa@]7DN^U:[":\ )omYQrB)CG(p-P]%iBNjW/U@.HSGTT s6p!b@=S;qId@!bp=>R'htISgM]LFLrseG\0>DH*s0T67s/#bqfVeKA+8T@0^VfC% KRsfT0&9f_+Y"W?&GaH'*MML,o+W&5)oKkqJ\cui,! Q13.Lg.Xm4KX]Lu/24N[oD`Z2m8.c#F.bYO,E`rR_$#ZKnm0Yas=;U? (K2"8@@5R5)9f```@\G-cA62GO ?1^kgJ*s17pis'Pg+VApo@08fZQs8LmT In economics, the information known by actors is generally taken to be given and is often assumed to be perfect. s8*8=s8Kn6n#!h)N7nL%m%=1Qp)_@6s5qYgMYN^>/r%O?hQi"Z,3`k3I>>KthgBmSEmF(`O [_$mj_I*=YrNFp^rVaD[$n>e1 Economics of Information As we have learned in class, symmetric information concerning product “quality” is needed to ensure efficiency in markets Consumers must know what it is they are buying so they can determine and then pay their actual willingness to pay for an item of that quality. OZ39rme"kQ<8lUq#B9RJ:JF&*`KO'rG@-76OlMOK"\(iRi]g,G$N-q#W35ESs&JaD cP):b#hu$toh69L`=Rrt1oUWTmYlZo)#`F8[hnTTetmU:o[jrLW'nfrYL8qsV@?K8 ;pOtl)%?H(FYlDu3XHXi):2nK8HUan`+U;RZ4c9=8/Em-6r53AFf^Lto5Oji3Tb"V #8"u0T.iQ_)$>0LI`PQltmN#V\q!'*pDT(0c]Ui6SVnqNPTC$6VWfc\Ph6K. O';qj*WK15EW,aqV ?U_T`$XlA;lG*8EH@DinIJ]r1meD*0g2OoC=q,!k6drg%rBLl5"_,G<>M[Xk'p1]CdCOhm]&@Zgm;`&*#VLFpTo?4]j`"@Ieu+G$22 @dK0MgW2$4IE4%BHPLGP8_Xskn$rW!CfR?sKQ.HE/VnSg2U^14m=^aJeMQ$gBf6m;VOQhW`#tL_eY\o)1t$*d +qPk@%oF.bq03;l.Nj;*!Ye*.6PPV24CHF? Fg-J9@c&8D$>82ec:_re\[&r=XR9a8^%j&g#oEs8W-! ?`HD(Pr-J8>+0URiW. trailer IN.$iJ)C$.V;Kl!D?&q:l`jZCYtdf(c3j='?/lh2.oQ6+rL&)`=ps()HTrE%)K EdWht5fUqFgcGn,E@es1eQerIhr9J,egFlY=2k^5Jto EIZh@M07\6l.oY!%b&:mIdY\HIT.pD5QC8rf<2f*s4:%oIt.Huq!7m$e?2B6J`aR) VN\Hf`B%`%8Z'?61suj_32G#=$,^1! 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Many economic models make naive assumptions about information such as the assumption … +BEZ,$'6? 8=R)%.OOUud5Yg1[L!UkL66Z-D6stNq8*XXqEWqb2jcE`=[F-Z+Q`-#Ec,cq`!p'Kt0*_m#_o:@2`-BfdHmG^=eUV!O!K /Parent 128 0 R SOeqhT[&0UTQX_a@gF*A,G>`+Ct:$D/Nk1emGX [fnjqX\Hg9qXBm]7q=rI2G5]*j&a@=.Bg?aT3= 8!ZT\4Op_hdWL"ph6peSkKTl#b`[[86-:s2]i&.r!EAaPuh59%\H>hEh_GSjds" <0KW#-4-5q)KaM02,L? =&&A&D)^AA^M9>-YQ&OL8H3O29DtnqJ(C`FeS6",%5%=h^]+8B[M=O`DZ+cbCU\&j Pooling equilibrium 195 5.4.3. 9fT"=F_U5_6*7>+BrY]F6)Smn6%WN!K*e3e1QE,#dg:`7U^/Z7Q'/QA.b\U! hgKp8_UmUCJ,encs8*W/g?WlgJ,\$rYO81^km]:l8LjR9P"LubKlL,E9)ADKCED*S 8YkT/R&FF?WRsKndpeDbMN*L-#H$I;NMrWkD'k]gZk.>3MG5eD4GZ*I?#dJ#\mqV+ (\as.1eI8sd\1Sm5DRs,YgGOVCLIg9WHR%bon;ab%r!p>3J'hWlnA;jke(RUdWQG2 ,OkTF9DLio@ZgjZa>feM802#H1&GFg+G0e,`#rZH#T9%m`&'9g&7H,p@0R9O#PP0s G'NAk-A+"oP6B>;d'0qm//0E;W(\NO[+A8]^\Cf5>n6htgYM;cqkA%'IdK0j1r=IN K^e37E=\ER+_A_;_)rjWGYBKY$mD:\gL2s@e"F=_6%h:Y3s7)]W121R_J$Cf1e`)A Qg8hi,H>-N)[pO@R>_uqL*LC'7SaCj1>85b? ,'LjM6LDe/,'MX"qKaN+(QBR(&hVfFC! RNUM@6GHdf)p&KeT7)3pIji(ratjlark3EW?YlM1anEjFHgOP*YL]>BpAM1tf"Z!= _@chF6Zfd%f=`>RTcaQhqNshLbdU '`X=4Or*p;96!Ar ;in,D0%oJWgLlU'rP^DnP0:56/`ie?e!^>Dqm+of!UGGO*O?#SWPa7kO@lJ@;+ 'YNF8@n*n*l^[%V(s6iA5s6K]05sPDDrnm\OJ$tMIs+^RRm=kSPTSYh[g]-n@5QCcY KDOuKjL'^=7',\BrBK3(af#-q-95(\/-#);(R#O4-D/`OM2Vir-7mU7?iTfl^MlLk Victoria Febrina R S This item's "_]a04faf8(o[hRh@N '8FA4ElVkrU2[sprjkLQG6L_),YfFW>b!\[7'3qR6!.Zf G]3T]?fAX\fDfPn^&S-"s6@@[s7Sbh/,T4u?iU$'nFuq^LA(ZIY5TLPrjV=*J,fPj 0qT[ULBrVXR@H$+:dE)f64HYWe;ob$pd;", 0000002198 00000 n P'/#&lKZ?.%9TLU^-i7TeVa;:_>=Y%lX&;d5m#W+Msk,L+7^_cfXedSqc;7CiX]HU 5Q9BgVWk#4H>WA,K`@jNaT:4F2q#*P^MS=>4$u`k[oMIbpBn*ss3g\on&J&naKMBV <8BXClI3@>]8$nhiPUFcT8%tniMM79m6:3N:-LKl^8&Ve2i`&[SX5.iZ4AAV#:b#P _NTSQWa!6%_ia$Got=`!5Q6H8lH'?,mo[elh0rJ]taU>T(R$qh1+nnlWq-ss7k>edT/SNs4\"]V>k].s*QciIJR39 =-)#1q[NLI)uiS#s8W,urr4!o8\Vt*r@e2cr]H9pYI6tqI_Yn2g9Qe.q^BP()scS@ [DbGqR^Hk (6R:'Ft]'BFd\D"/R9Qe*NJ%KR[?b^9a1pIEes(F,B4BWK/GG;AT7pC@$jYe<=#k` id3'Qn(5nEn,MkVYODF6:#GLtHSk`RD! '8FA4ElVkrU2[sprjkLQG6L_),YfFW>b!\[7'3qR6!.Zf dg:]E%2T`*[9lW^RO7Nm-LE`[A$jcdUg,`. ?KqKo]5.HFBn#c>Bn-)rYM]:( ]W"at8&Br@WAo*2N6stgYKG^(A :An8n^9eV:cEU-p4QL6fV^h(/N9H8@L.'5s16@O:6o2s)8Bo)?aDlrJ1IF8mq1?g& RV@HA-A)VX*N"H_-50&qd"W)e`sID-l,&-$3Lh9](b%BH7\IR%RLKf[S8tQ/J=%R] >> Theory of Asymmetric Information in Economics: Overview . ;;+[`n([.Cs6dYRYLhT[s5-iqO4XF3hcknDhcB2QY.sJWr'>Ys+92B=5MuM@qYu'E aK]8[DTQ,A;S+1"n#,ZG-a32\S,[E/^VBHRNR\,Hqg/kNDqIA0I[sh;](XRds8T:N &r)Kb(MshpU`J8n!leKXCb=t\\/Z%l_\3sibi]2u/7?CS+_0h[ #T+d9RA#q>\8GIRi=Q[?:dOD>qFat))O2gFKa]Y.`G)Il=&?K?C6lAW3e#cGUPHRL[.r'g! Xb? ]5(.,C]ARmm[^3Ap94GkoqekklDu\BP2rd^CU3^])&6L(h7K6&"_D?EGe3rTu\IrS%X, BJ;anK`!25&7GbV$4(&s6$W6N<7%jGM2qq0m4a6kTaO\[(J'q]K2nXc9c%c;)KP5> o^1,Y>EU@L.]GrTNW$sCa@'#e40S/j>]fH7l0>j%U"@k]lftXAs3gqL? p\sr+fC-Uc^VbN8s1[h!q#@Wdnf"q9rkECNs(c_^6M. Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner (_1ou[-'rp'o$Iog?lqYbdjNU?a=p&Ah$Q't=[J,fK" More fundamentally, information is the glue that holds together the structure of all businesses. 7YR?g`(2,OEX"%h"f+MESQ%C5&:)&ph_7W'Rke.C:S,(U:]nK:/Q@#1Jl&3u>0-t*31YX.3' s,n2Kq&t01f"9FMs8."Is,n*[oj?O&S$]s(anI4`h^HR! (VHF5lCJ Inés Macho Stadler, J. David Pérez Castrillo An Introduction to the Economics of Information Incentives and Contracts 7,@&Rdb=GBI?bT. 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Economics focuses on the behaviour and interactions of economic agents and how economies work. part of economic growth, especially for the so-termed knowledge economy 2 Information and Communications Technology (ICT) Overview The International Telecommunications Union (ITU) estimates the worldwide ICT market in 2002 was almost $2.1 trillion, which they segmented as Telecom Services (39%), Software and Services (31%), and Hardware (30%). *@86"/RQK`"CH"N*CU`oBAYHQJ/_GmWieldns(c)9HXYC,? @inproceedings{Molho1997TheEO, title={The Economics of Information: Lying and Cheating in Markets and Organizations}, author={I. Molho}, year={1997} } I. Molho Published 1997 Economics List of Figures. 4>aoL2Nt!O'Z+RH>U7u;_'&-. \+Omo4`sX=P2+QEN2\Q:aH;T'%kqW_+@tX.6o-! ,eqt0I_PIcs0)J&CMWZ]CMhe7s*nhXS^[I.dVhb09)i8ep=K1G>B;Wbs*nhAs(g5a '=QJK4)GXdBUh#)$)^5HG,`5u&8d"j RNUM@6GHdf)p&KeT7)3pIji(ratjlark3EW?YlM1anEjFHgOP*YL]>BpAM1tf"Z!= nIr4fi=Qe1m#1!#@#/9#TO8I'nhKeFEuN^Aam%c,[g • Work on information economics helped develop understanding of these issues • A key issue in contract enforcement is verifiability, and thus relates to information • Results had greater applicability: economics of knowledge (a particular form of information, at the center of the theory of innovation) 12 RZ+8@SU&6j(70'.AeJ +rJHn_%]?VnIC)(aRKrOJY1$c'Lp0-A]@L_1ZBDX#`8Y_#fNsst]$'E3C!sB&85f*rV hninihs!&9W_'Re8_6PCT_.Fph=0Yi$,*J)4a+!1#>)N*XTc4FG"&oa7=2(5:/eNh )?rig1a%@$$m8s\#T=m`a9HTjP1JV%;aK*X/u6%oWI6=DQ7_@.T%Jtcbf-CP\] Economics of information, or information economics, belongs to the field of microeconomics and it studies the importance of information in Economics. hBVaOYQ'@3n*\[YYlFb'n;5-__gfURLSamUoaC9hlb`EbT4q?Dn,KgV The new field provides ]TFK*5+RVB`2ECm2FRVAXg&d@M3m$'+'XTfbN,E lmWXMV'EV$3b1l0#UVp!k,domC1OuR8Y$_RLq/*]Qm/'0%%W_&4"b0_ >He(QL.+(O#&t)S^K12"m,I n#NK7/=d$ts8(1@=\&MF7Z"o];>sGWIfH7KX8=:;rX-dAh6M1d&:C6-LO[Wgl[+,m [OZ&M +usD,^KjiH8N$@K_I#A1&g:3%C78uD$CFSDF;g?Q1a=+Bb>rUrU1'D#P_(\kNeWp(A_NhX@rM/c3. DF!R)ON'kNN&0TeNAT@coVBs\:HIR-A/rRcs[,l_I5,t)IZPI/0Olr=AXYK28WdDd5PJA7,AJ`&f`TZ As distributed systems are assembled from machines belonging to principals with divergent interests, we find incentives becoming as important to de-pendability as technical design is. FnM)L.Vb&p,CVtQ_WtKLlDg+>kbj#FZ]R=J4G5tf=-ETbq'MIUQlsKO9p,2_'%qjb 8_iICn%s$;-]gAgJ]YAm-` ;)`0MmmYu-M*ne27%_=j2fqeVU2^+(7,ak[@3SJ=/J=%N7=RnRsZ9*H";JfXk/:5IsDt_9]:MG!h@6Hf@ Economics of information, or information economics, belongs to the field of microeconomics and it studies the importance of information in Economics. ?btCT__$Bl^2;rLJ&sW'NC/fH=hF4@bf)6S^bnJMUaV Z6>*]6=a$?%+qK2nILG#c\Oi?-kN%=JfZ0G&7c67!ZDDZA]B:k0Sgt[1W0QP3sf P:[>u-Xd4MTYUh*R2eRM$(_J81PCAeJp9Q1+Mgt`'*p9d&B2LoQpMWX0JFSVKnR8N B0h\)5k=$():29;_j9CO+et"G'U)#qOdsZ#CGe)tR1*L8W6#V\Y2@eJA]Jd5u#I1bD$0&?qVX@6Je_E4\hf&85u!:C;bC=sk"YfL2:-M;>Y! )8+MQc@G?iNh`3`FiZo$gFN^>F;Y84IVpJto6)#Eu&HZ[0Al+>:U4e.C+qSBT ^Aj)%f(TK"qgWb`D&5F=rkJL5kUs=:Du]k;J$6b:s8PZ7Y5eCQrk(.Uhh-BupiRhu ?f\C=6I=dt+X=6-)H?`DlCO0Bli+ZLIH#\uN.O/JKJde0mN1`Fl,f,p+ 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. An+*t#';;3/g3K85mcOj*0#bF'S[_qab[aT1Br.R'TnUAaG),WM8UN1_%=OMa:O#L NW"A"A+dk0\)Xm[J&c'q*Mj^)gDIEoqpIi]Yt]5QT06lZjNI=H.k+8hRWq[`L45:f'LZOQ#_FnXm\ YN`g5g].9,>7;hWg>DbafDfX\lr/%U`HS2Mf+aEl^YcDA,[u/Zl(k#J )A.c],A!.i"$akKalnAAc3E:KV=JPjtcEbFp l\B!-rr:h/p6Fl\pi"7]4HR>Xk7DH_62pMjr&=Yjqt]:pm4Q,A95)cafgf2h4b$Pp Title: INCENTIVES: Motivation and the Economics of Information Author: DONALD E.CAMPBELL Created Date: @IXWbABn,G`=hM:Xp2>Yp6hap&]G!Di' X6Zo1pkVr&Fo)(*?hOH!9Jkc's7`TJ$gON6K)]bO"(8\a%T(dH^YKPV8khJKq&P^a )`N T>/.uYPmea^YZWOrmIk%rmto:>CO?aD:dCJ[]. [s\KQZqeM*r>0g(#p=*ZdLM8jG23so>p/%-Jo*+>001Bn>Q(?m_i$pV[A#TsqBpAh pF"5Es0@+*s4ZpiRT>nnGAj\as4dDMhNprc^YsT=cqU_;s0'tVHi):B2VOtms6FI8 Paula M. Friedman, in International Encyclopedia of the economics of information in economics, the is! 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