Welcome to: Information Economics -- a book by Urs Birchler and Monika Bütler.

Daily bits and bites

Revealed Preferences

Alice and Bob, walking along the street, pass a Ferrari. "I want one of those," says Bob. "Obviously not," replies Alice with a broad smile ...

Information world

The father of the World Wide Web worries about his creation.

Sir Tim Berners Lee is worried about the spread of cult thinking over the web. When Cern, where he did his pioneering work on the web, turned on the Large Hadron Collider LHC in September 2008, fears about a black hole swallowing the Earth quickly spread over the internet. Other internet rumours hold that some harmless vaccines are dangerous to children.
Sir Tim considers the introduction of labels for trustworthiness of websites.
Information Economics treats important aspects of such labels. Chapter 6 discusses the economics of the supply of quality labels like credit ratings, Chapter 10 shows how misleading information can spread even among relatively rational individuals.

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