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Econometrics of Information and Efficiency by Jati Sengupta (Hardcover, 1993)

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Product Information

Econometrics 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. Econometrics of Information and Efficiency aims to bridge the gap. 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, for instance Bayesian estimation, expected maximum likelihood principle, and the fuzzy statistical regression. This volume analyzes the applications of these tools of information theory to the most commonly used models in econometrics. The features of the text include: a critical survey of the uses of information theory in economics and econometrics; an integration of applied information theory and economic efficiency analysis; and the development of a new economic hypotheses relating information theory to economic growth models. New lines of research are emphasized.

Product Identifiers

Publisher
Springer
ISBN-13
9780792323532
eBay Product ID (ePID)
95207665

Product Key Features

Subject Area
Data Analysis
Author
Jati Sengupta
Publication Name
Econometrics of Information and Efficiency
Format
Hardcover
Language
English
Subject
Economics, Computer Science, Mathematics, Management
Publication Year
1993
Type
Textbook
Number of Pages
258 Pages

Dimensions

Item Height
235mm
Item Width
155mm
Volume
25
Item Weight
1240g

Additional Product Features

Title_Author
Jati Sengupta
Series Title
Theory and Decision Library B
Country/Region of Manufacture
Netherlands

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