This book explains the way in which information and knowledge are treated in contemporary economic theories and, therefore, contributes to our understanding of the importance of the strategic organisation of information and the acquisition of know-how to the behaviour of modern economies. It gathers together contributions of experts on the role of information in the various theories covered: specifically, in system analysis, in game theory, in the 'statistical theory of information', in theories of market pricing, of financial speculation and of bounded rationality decision making, in the evolutionary theory of the firm, in the 'new industrial economics' and in the 'economics of codification'. Economics and Information is divided into three parts. Part One deals with general theories of information. Part Two addresses the role of information in the functioning of markets. Part Three considers the importance of information to the operation of organisations. Conclusions are drawn in Part Four on the implications for the process of economic growth and for economic policies. It, therefore, provides new insights into some of the puzzling features of recent developments in the so called New Economy.
Pascal Petit is a CNRS director of research , working at CEPREMAP, a research centre in Paris sponsored by the CNRS and the Commissariat General du Plan. He teaches economics at the University of Paris 13 and has produced a number of books and a great many articles on economic growth, productivity, technological change and employment in developed economies.
On the authors. Acknowledgement. Introduction. Part One: Information theories. 1. Economics of Information or Economics of Information Systems?; J.-L. Le Moigne. 2. What Economics Borrows from the Statistical Theory of Information; P. Garrouste. 3. Structure and Role of Information and Beliefs in Game Theory; B. Walliser. Part Two: Information and market. 4. Information and Prices; A. Kirman. 5. The Self-centred Logic of Financial Markets; A. Orléan. 6. Theory of Information: from Bounded Rationality to Interpretative Reason; O. Favereau. Part Three: Information and organisations. 7. Information, Knowledge and the Evolutionary Theory of the Firm; P. Cohendet. 8. Information in the Theory of Organization; J. Crémer. 9. On the Codifiability of Knowledge: Technical Change and the Structure of Cognitive Activities; R. Cowan, D. Foray. Part Four: Perspectives and conclusions. 10. The European Policy of Promotion of the Information Society; M. Catinat. 11. Screening the Information Economy Through Theories of Information; P. Petit. Index.