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Informational Economies of Scale

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  • Robert Wilson

Abstract

The theory of the firm under uncertainty is examined in the context of several examples which illustrate that opportunities to purchase technological information at some cost in resources may induce economies of scale even though the technology of physical production has no economies of scale. Better information justifies a higher scale of operations and vice versa. The two effects combined lead to an unbounded optimal scale of operations when information acquisition is adjusted optimally.

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Bibliographic Info

Article provided by The RAND Corporation in its journal Bell Journal of Economics.

Volume (Year): 6 (1975)
Issue (Month): 1 (Spring)
Pages: 184-195

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Handle: RePEc:rje:bellje:v:6:y:1975:i:spring:p:184-195

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Cited by:
  1. Robert M. Hull & George E. Pinches, 1995. "Firm Size and the Information Content of Over-the-Counter Common Stock Offerings," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 4(1), pages 31-55 , Spring.
  2. Huanxiu GUO & S├ębastien Marchand, 2013. "Is participatory social learning a performance driver for Chinese smallholder farmers?," Working Papers halshs-00878886, HAL.
  3. Paul M. Romer, 1989. "Increasing Returns and New Developments in the Theory of Growth," NBER Working Papers 3098, National Bureau of Economic Research, Inc.
  4. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
  5. Boyan Jovanovic & Yaw Nyarko, 1994. "Learning By Doing and the Choice of Technology," NBER Working Papers 4739, National Bureau of Economic Research, Inc.
  6. Xiaojuan Hu & Cheng-Zhong Qin, 2013. "Information acquisition and welfare effect in a model of competitive financial markets," Economic Theory, Springer, vol. 54(1), pages 199-210, September.

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