Jason Smith — Ane Role Of Data Theory

Unfortunately, Shannon's entropy, oftentimes referred to every bit information entropy, in addition to hence shortened to only information, is oftentimes confused amongst the colloquial term "information". This brings connotations of data, of knowledge, of specific sets of symbols amongst specific meaning. But every bit Shannon in addition to Weaver said inwards their mass from a twelvemonth later, nosotros must non confuse information theory information amongst meaning. This collision of terminology is amplified when it encounters economics, where information economic science deals specifically amongst the economical value of meaningful information.

I believe the best agency to sympathize this divergence is to sympathize what information theory illuminates. Information theory gives us a agency to quantify concepts when nosotros select express cognition virtually what underlies those concepts. For example, information theory is essentially a to a greater extent than full general framework that encompasses thermodynamics inwards physics — thermodynamics is the scientific discipline of how collections of atoms deport despite non having remotely plenty cognition virtually the trillions upon trillions of atoms to brand a model. We surrender talking virtually what a unmarried atom inwards a gas is doing for what an atom could live on doing in addition to amongst what probability. We halt talking virtually atoms are doing in addition to instead verbalise virtually the realm of possibilities (the dry reason space) in addition to the most probable states....

Information Transfer Economics
One role of information theory
Jason Smith