Econometrica: Jan 1974, Volume 42, Issue 1

Information-Improvement Functions

https://doi.org/0012-9682(197401)42:1<103:IF>2.0.CO;2-G
p. 103-112

Bhu Dev Sharma, Ram Autar

This paper deals with the characterization and properties of "information improvement" which Theil has applied in Economics. A functional equation in three variables is formed. The solutions of this functional equation under suitable boundary conditions are defined as information-improvement functions. The "information improvement" is then defined in terms of information-improvement functions.

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