Accession Number : AD0767012

Title :   Limited Role of Entropy in Information Economics,

Corporate Author : CALIFORNIA UNIV LOS ANGELES WESTERN MANAGEMENT SCIENCE INST

Personal Author(s) : Marschak,Jacob

Report Date : JUL 1973

Pagination or Media Count : 14

Abstract : Of the properties of the entropy function, meant to express the intuitive characteristics of the concept information, some are shared by all symmetric semi-concave functions, others by all concave functions, of the probability vector. Moreover, one information system is more valuable than another, for all system users, if and only if the information transmitted is greater for the former system, computed on the basis of any concave function of the conditional probability vector, and not of entropy alone. the economically important exclusive property of entropy is its measuring of disorder defined as the minimum expected length of a decodable description of a state. It is relevant to the variable cost of communication (increasing with its duration) or to its fixed cost (paid for channel capacity). (Author)

Descriptors :   (*INFORMATION THEORY, *ENTROPY), STOCHASTIC PROCESSES, CODING, MATRICES(MATHEMATICS), PERMUTATIONS, THEOREMS, UNCERTAINTY

Subject Categories : Cybernetics

Distribution Statement : APPROVED FOR PUBLIC RELEASE