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Logic of Choice and Economic Theory

S. N. Afriat

Published in print:
1987
Published Online:
November 2003
ISBN:
9780198284611
eISBN:
9780191595844
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0198284616.001.0001
Subject:
Economics and Finance, Microeconomics

This book approaches various aspects of economics that have to do with choice, and the opportunity for it, such as individual and social choice, production, optimal programming, and the market. The ... More


Rényi Divergence and Monte Carlo Integration

John Geweke and Garland Durham

in Advances in Info-Metrics: Information and Information Processing across Disciplines

Published in print:
2020
Published Online:
December 2020
ISBN:
9780190636685
eISBN:
9780190636722
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190636685.003.0015
Subject:
Economics and Finance, Microeconomics

Rényi divergence is a natural way to measure the rate of information flow in contexts like Bayesian updating. This chapter shows how Monte Carlo integration can be used to measure Rényi divergence ... More


Cost-Benefit Analysis of Data Intelligence—Its Broader Interpretations

Min Chen

in Advances in Info-Metrics: Information and Information Processing across Disciplines

Published in print:
2020
Published Online:
December 2020
ISBN:
9780190636685
eISBN:
9780190636722
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190636685.003.0016
Subject:
Economics and Finance, Microeconomics

The core of data science is our fundamental understanding about data intelligence processes for transforming data to decisions. One aspect of this understanding is how to analyze the cost-benefit of ... More


Differentials and Convex Analysis

Robert G. Chambers

in Competitive Agents in Certain and Uncertain Markets

Published in print:
2021
Published Online:
December 2020
ISBN:
9780190063016
eISBN:
9780190063047
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190063016.003.0002
Subject:
Economics and Finance, Econometrics, Microeconomics

Mathematical tools necessary to the argument are presented and discussed. The focus is on concepts borrowed from the convex analysis and variational analysis literatures. The chapter starts by ... More


Squiggly Economics

Robert G. Chambers

in Competitive Agents in Certain and Uncertain Markets

Published in print:
2021
Published Online:
December 2020
ISBN:
9780190063016
eISBN:
9780190063047
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190063016.003.0004
Subject:
Economics and Finance, Econometrics, Microeconomics

Three generic economic optimization problems (expenditure (cost) minimization, revenue maximization, and profit maximization) are studied using the mathematical tools developed in Chapters 2 and 3. ... More


A Computational Theory of Meaning

Pieter Adriaans

in Advances in Info-Metrics: Information and Information Processing across Disciplines

Published in print:
2020
Published Online:
December 2020
ISBN:
9780190636685
eISBN:
9780190636722
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190636685.003.0002
Subject:
Economics and Finance, Microeconomics

A computational theory of meaning tries to understand the phenomenon of meaning in terms of computation. Here we give an analysis in the context of Kolmogorov complexity. This theory measures the ... More


Product Innovation and Welfare

Paul Stoneman, Eleonora Bartoloni, and Maurizio Baussola

in The Microeconomics of Product Innovation

Published in print:
2018
Published Online:
March 2018
ISBN:
9780198816676
eISBN:
9780191858321
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198816676.003.0012
Subject:
Economics and Finance, Microeconomics

This chapter addresses the impact of product innovation on economic welfare, initially defined as the sum of consumer and producer surpluses. In a static framework, it is shown how product innovation ... More


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