Frontmatter -- Contents -- Preface to the Paperback Edition -- Preface to the First Edition -- Introduction -- Chapter 1. The Great Moderation -- Introduction -- Birth: Calm after the Storms -- Life: The Great Risk Shift -- Death: The Dissenters and Their Vindication -- Reanimation: A Global...

This paper has three goals. First, we demonstrate that standard arguments and methods from production and duality analysis can be used to provide a comprehensive and general treatment of the value of information for a risk-averse firm with expected-utility (linear-in-probabilities) preferences...