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


Thanks to our attentive readers a number of items have been detected.
  1. Chapter 4, Figure 4.3: ''good/bad'' should read ''even/odd''. (Finder: Mark Felix Schütz)
  2. Figures 4.4 and 4.5: E^s in graph should read E^g
  3. Chapter 4, Problem 4.2 [A perfect forecast]: The relative probabilities of a boom or a recession are not specified. For question (b) assume that booms and recessions are equally likely!
  4. Chapter 5, Equation (5.1): The nominator (i.e. β) should be under the square root, too. This means that in the following numerical example q equals 0.777 for a β of 0.64.
  5. Chapter 10, p. 211: eq. (10.2) and (10.3) are mathematically equivalent. Having two different expressions is more convenient, but the expression ''different results'' in the text may be misleading. (Finder: Patrick Haas)
  6. Chapter 14, page 332: β is defined as the fraction of optimists. Therefore β should be replaced by 1-β on the vertical axis in Figures 14.12 and 14.13. (Finder: Johannes Fritz)