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http://ssrn.com/abstract=350683
 
 

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Information, Entropy and Evolutionary Finance


Jing Chen


University of Northern British Columbia - School of Business

October 2002


Abstract:     
In economic literature, the cost of obtaining information is generally determined exogenously. In physics, however, there is a long tradition to link the entropic cost of obtaining information to the value of information. Recently, an entropy theory of value, or information theory of value was developed to provide a unified understanding of economic value, information and physical entropy. In this work, we show how the entropy theory of information and value provides clear understanding on the evolving nature of investment strategies and on the long time debate on the efficiency of financial markets.

Keywords: information, entropy, evolutionary finance, market efficiency

Number of Pages in PDF File: 27

Keywords: information, entropy, evolutionary finance, market efficiency

JEL Classification: D80, G14

working papers series





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Date posted: January 14, 2003  

Suggested Citation

Chen, Jing, Information, Entropy and Evolutionary Finance (October 2002). Available at SSRN: http://ssrn.com/abstract=350683 or http://dx.doi.org/10.2139/ssrn.350683

Contact Information

Jing Chen (Contact Author)
University of Northern British Columbia - School of Business ( email )
Prince George, BC, V2N 4Z9
Canada
250-960-6480 (Phone)
250-960-5544 (Fax)
HOME PAGE: http://web.unbc.ca/~chenj/
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