A Theoretical and Empirical Approach to the Value of Information in Risky Markets
Bibliographic Data
| ID | 19318043 |
|---|---|
| Authors | Frances Antonovitz, Terry Roe, Terry L Roe |
| Year | 1986 |
| Volume | 68 |
| Issue | 1 |
| Pages | 105 |
| Publication date | 1986-02-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Review of Economics and Statistics (JOURNAL) |
| Journal identifiers | ISSN: 0034-6535 • E-ISSN: 1530-9142 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/1924933 |
| OpenAlex | W3124035303 |
| Language | EN |
The theory of the competitive firm under price uncertainty is used to develop a money metric of a producer's willingness to pay for additional information. This concept is extended to the market by formulating ex-ante and ex-post measures of the value of a rational expectations forecast. The empirical feasibility of these measures are demonstrated by application to a simple two equation model of an agricultural market
Econometrics · Economics · Financial economics · Mathematical economics · Microeconomics · Statistics · Value (mathematics) · Value of information · Agricultural risk and resilience · Capital Investment and Risk Analysis · Economic theories and models · Mathematics
| Highly cited | No |
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