January 1, 1975

Informational Economies of Scale

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Resumen

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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Cite This Study

Robert Wilson (Wed,) studied this question.

synapsesocial.com/papers/6a0ff39696ccf432805fdbec https://doi.org/https://doi.org/10.2307/3003221

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4Dynamic Programming of Economic Growth1967 · 22 citations
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