The Impact of New Information

Kjell J. Sunnevåg

Chapter 17 in Making Essential Choices with Scant Information, 2009, pp 353-374 from Palgrave Macmillan

Abstract: Abstract What is information? One common definition is that it is the result of gathering, processing and organizing data in a way that adds to the knowledge of the receiver.1 What is interesting here is that it implies that obtaining information requires some effort, i.e. that costs are involved. Obviously, some information is worth the cost and some is not, but how can one decide? Also, how should the knowledge provided by new information be used in the assessment of various project concepts?

Keywords: Real Option; Call Option; Exercise Price; Project Completion; Quota Price (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1057/9780230236837_17

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