Informational advantage, exogenous variability, and economic welfare: can the informational advantage of the policymaker reduce welfare?

Article Abstract:

An analysis of the relationships among informational advantage, exogenous variability and economic welfare is presented. The analysis considers a model oftime-consistent monetary policy which applies feedback rules on currently observable variables. It is shown that increases in policymaker information accuracy does not necessarily generate improvements in economic welfare. In addition, such information improvements may even decrease welfare conditions.

Welfare economics

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Information efficiency in betting markets: a survey

Article Abstract:

The racetrack betting market is an example of a simple financial market which researchers consider an easy subject by which to test information efficiency. This perception is attributed to the market's specific termination point at which each asset or bet holds a definite value. Hence, researchers are freed from using empirical methods enabling them to avoid many of the difficulties caused by uncertain future outcomes.

Amusement and recreation, not elsewhere classified, Other Gambling Industries, Off-Track Betting, Information NEC, Information technology, Gambling industry, Information management, Horse race betting, Off track betting

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Quality uncertainty mitigates product differentiation

Article Abstract:

The absence of perfect information in a vertical market of quality products will eliminate any incentive on the part of manufacturing companies to seek horizontal product differentiation. In such a situation, the quality premium associated with goods and equilibrium results can be defined in terms of minimum differentiation. Firms will then compete directly with other producers for the same market.

Product quality, Product differentiation

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