Articles

Peter A. Corning. Control Information The "Missing Link" in the Science of Cybernetics?

Norbert Wiener's cybernetic paradigm represents one of the seminal ideas of the 20th century. It has provided a general framework for analyzing communications and control processes in “purposeful” systems, from genomes to empires. Especially notable are the many important applications in control engineering. Nevertheless, its full potential has yet to be realized. For instance, cybernetics is relatively little used as an analytical tool in the social sciences. One reason, it is argued here, is t...

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Dennis Dittrich, Boris Maciejovsky. Information Dissemination on Asset Markets with Endogenous and Exogenous Information: An Experimental Approach

In this paper we study information revelation on asset markets with endogenous and exogenous information. Our results indicate that superior information can only be exploited in the beginning of trading. Information disseminates on the market and informational advantages are counter-balanced over time. This result holds true for both, exogenous and precise endogenous information. Vague endogenous information, however, has no impact on individual payo . Furthermore, we find that excessive tradi...

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Florian Zimmerman. Clumped or Piecewise? - Evidence on Preferences for Information.

The selection and processing of information is a key element in virtually all areas of economic decision-making. Individuals facing economic choices, e.g., investing in education, choosing an optimal health insurance plan, buying a house or deciding how much to save for the future, need to choose sources of potentially helpful information and process this information to be able to make an informed decision. Likewise, economic choices a ect the kind, structure and timing of information decision-...

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