Use of information is basic to economic theory in two ways. As a basis for optimization, it is central to all normative hypotheses used in eco nomics, but in decision-making situations it has stochastic and evolution ary aspects that are more dynamic and hence more fundamental. This book provides an illustrative survey of the use of information in econom ics and other decision sciences. Since this area is one of the most active fields of research in modern times, it is not possible to be definitive on all aspects of the issues involved. However questions that appear to be most important in...
Use of information is basic to economic theory in two ways. As a basis for optimization, it is central to all normative hypotheses used in eco nomics,...
Evolving industries are deemed essential for economic growth, but can also collapse when ill-judged decisions are made on the basis of incomplete information. This extension of the Schumpeterian approach introduces a stochastic model of industry life cycles.
Evolving industries are deemed essential for economic growth, but can also collapse when ill-judged decisions are made on the basis of incomplete info...
Representing a significant extension to the current theory of innovation, this analysis offers a novel paradigm based on US and Asian data that applies the Schumpeterian model of innovation to today's competitive, managerially challenging business environment.
Representing a significant extension to the current theory of innovation, this analysis offers a novel paradigm based on US and Asian data that applie...
