Time, uncertainty, and information

書誌事項

Time, uncertainty, and information

Jack Hirshleifer

(Uncertainty and expectations in economics)

B. Blackwell, 1989

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注記

Includes bibliographies and indexes

内容説明・目次

内容説明

This volume collects together the work of Jack Hirshleifer, both theoretical and applied, and aims to demonstrate that there can be a single integrated approach valid for the topic of time, certainty and information. The author begins with the theoretical foundations required to understand time and uncertainty in economic decision-making, going on to link the simpler analysis of passive adaptations to uncertainty - the balancing of risks - to the more difficult study of active adaptations, of information-seeking behaviour. In the third part, the theory is applied to crucial policy-relevant issues. These include how business and government decision-makers should analyse investment projects, liquidity and the term structure of interest rates, the return to inventive activity and the function of patent and copyright protection, and the nature and significance of speculation.

目次

  • Part I Time, Risk and Uncertainty: On the theory of optimal investment decision
  • A note on the Bohm-Bawerk/Wicksell theory of interest
  • Investment decision under uncertainty - Choice-theoretical approaches
  • Investment decision under uncertainty - Application of the state-preference approach. Part II From Uncertainty Theory to Information Theory
  • The Bayesian approach to statistical decision
  • The analytics of uncertainty and information - An expository survey. Part III Applications of the Economic Theory of Information
  • Liquidity, uncertainty, and the accumulation of information
  • The private and social value of information and the reward to inventive activity
  • Speculation and equilibrium - Information, risk, and markets
  • The theory of speculation under alternative regimes of markets
  • Two models of speculation and information.

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