Market Structure, Aggregate Uncertainty and Social Value of Information in a General Equilibrium Model

Young Hwan Lee
Additional contact information
Young Hwan Lee: Dongguk University

Korean Economic Review, 1993, vol. 9, 141-170

Abstract: There are many economic parameters which would affect social value of public informaton in a general equilibrium model. This paper examines social value of public information in conjunction with preferences, market structures and aggregate uncertainty. An exact condition for information to have no social value is derived in terms of equilibrium prices when markets are complete. Also, when information is disseminated into the economy under individual uncertainty but no aggregate uncertainty, it is pointed out that information will not only have no social value, but also will induce a possibility to make everyone worse off in a non-trivial way.

Date: 1993
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://keapaper.kea.ne.kr/RePEc/kea/keappr/KER-199312-9-1-08.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kea:keappr:ker-199312-9-1-08

Access Statistics for this article

Korean Economic Review is currently edited by Kyung Hwan Baik

More articles in Korean Economic Review from Korean Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by KEA ().