A Theoretical and Empirical Approach to the Value of Information in Risky Markets
利用价格不确定下竞争企业的理论，构建生产者对额外信息支付意愿的货币度量，并将其扩展到市场层面，形成理性预期预测的事前和事后价值度量，最后通过一个农业市场的两方程模型展示其实证可行性。
The theory of the competitive firm under price uncertainty is used to develop a money metric of a producer's willingness to pay for additional information. This concept is extended to the market by formulating ex-ante and ex-post measures of the value of a rational expectations forecast. The empirical feasibility of these measures are demonstrated by application to a simple two equation model of an agricultural market.