Applied Economic Analysis of Information and Risk

This book examines interesting new topics in applied economics from the perspectives of the economics of information and risk, two fields of economics that address the consequences of asymmetric information, environmental risk and uncertainty for the natu

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Applied Economic Analysis of Information and Risk

Applied Economic Analysis of Information and Risk

Moriki Hosoe Iltae Kim •

Editors

Applied Economic Analysis of Information and Risk

123

Editors Moriki Hosoe Emeritus Professor Kyushu University Fukuoka, Japan

Iltae Kim Department of Economics Chonnam National University Gwangju, Korea (Republic of)

ISBN 978-981-15-3299-3 ISBN 978-981-15-3300-6 https://doi.org/10.1007/978-981-15-3300-6

(eBook)

© Springer Nature Singapore Pte Ltd. 2020 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Singapore Pte Ltd. The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore

Preface

The feature of this book is to examine various hot topics concerning the economics of information and risk in applied fields. In the development and dynamics of modern society, information and risk are notable keywords not only in lifestyle but also in economic activities. The economics of information and risk covers the important consequences for the characteristics and efficiency of the interaction between individuals and organizations when they face the situation of asymmetric information and various types of risk and uncertainty. As for the economics of information, essential tasks are to examine conditions of asymmetric information and incomplete information, under which the information gap will be exploited. As for the economics of risk, important works are to investigate the comparative statics results regarding the changes in risk in the expected utility model and relationships among several types of changes in risk. We have had an academic relationship since they met at an academic conference in 2010. This book was born in our academic discussion process. We hope that this project will further promote fruitful o