Accounting Commons^™

Stochastic Dominance And Information Value, Young Koan Kwon, John C. Fellingham, D. Paul Newman

Research Collection School Of Accountancy

Incentives for producing and disseminating information have been analysed in many different contexts. Kihlstrom [6], for example, develops a Bayesian framework to analyze the properties of demand functions for information about product quality. From an entirely different perspective, Spence [8, 91 demonstrates the private value of “signalling” information. Similarly, Wilson [lo] considers the value to the firm of producing technological information and the effect of such production on equilibrium theory.