We develop an information-theoretic framework for economic modeling. This framework is based on principles of entropic … inference that are designed for reasoning on the basis of incomplete information. We take the point of view of an external … observer who has access to limited information about broad macroscopic economic features. We view this framework as …

experimental lab in three different informational settings, and study the role of information in individual decision making. Our … truthful preference revelation. In addition, we find that information has an important effect on truthful behavior and … stability. Nevertheless, regarding efficiency, the Gale-Shapley mechanism is less sensitive to the amount of information …

This paper experimentally investigates the impact of different pay and relative performance information policies on … employee effort. We explore three information policies: No feedback about relative performance, feedback given halfway through … off. Moreover, in both pay schemes information feedback reduces the quality of the low performers' work. …