{"product_id":"9780792323532","title":"Theory and Decision Library B","description":"\u003ch1\u003eTheory and Decision Library B\u003c\/h1\u003e \u003ch2\u003eSengupta, Jati\u003c\/h2\u003e \u003cp\u003eEconometrics as an applied discipline attempts to use  information in a most efficient manner, yet the information theory and  entropy approach developed by Shannon and others has not played much  of a role in applied econometrics. \u003cem\u003eEconometrics of Information and  Efficiency\u003c\/em\u003e bridges the gap.\u003cbr\u003e  Broadly viewed, information theory analyzes the uncertainty of a given  set of data and its probabilistic characteristics. Whereas the  economic theory of information emphasizes the value of information to  agents in a market, the entropy theory stresses the various aspects of  imprecision of data and their interactions with the subjective  decision processes. The tools of information theory, such as the  maximum entropy principle, mutual information and the minimum  discrepancy are useful in several areas of statistical inference,  e.g., Bayesian estimation, expected maximum likelihood principle, the  fuzzy statistical regression. This volume analyzes the applications of  these tools of information theory to the most commonly used models in  econometrics.\u003cbr\u003e  The outstanding features of \u003cem\u003eEconometrics of Information and  Efficiency\u003c\/em\u003e are:\u003c\/p\u003e\u003cul\u003e \u003cli\u003eA critical survey of the uses  of information theory in economics and econometrics; \u003c\/li\u003e  \u003cli\u003eAn  integration of applied information theory and economic efficiency  analysis; \u003c\/li\u003e  \u003cli\u003eThe development of a new economic hypothesis relating  information theory to economic growth models; \u003c\/li\u003e  \u003cli\u003eNew lines of  research are emphasized.\u003c\/li\u003e  \u003c\/ul\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 1993-07-31\u003c\/p\u003e \u003cp\u003eFormat: Hardcover\u003c\/p\u003e \u003cp\u003eISBN-13: 9780792323532\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-94-015-8202-5\u003c\/p\u003e \u003cp\u003eDimensions: 235cm x155cm\u003c\/p\u003e \u003cp\u003ePages: 258\u003c\/p\u003e ","brand":"Springer Netherlands","offers":[{"title":"Default Title","offer_id":46311609761932,"sku":"9780792323532","price":152.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9780792323532.jpg?v=1771507630","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9780792323532","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}