Since information theory was developed by Claude E. Shannon, in addition to its primary role in communications and networking, it has broadened to find applications in many other areas of science and technology, such as microeconomics, statistics, and neuroscience. This thesis investigates the application of information theoretic viewpoints to two…

The Edgeworth exchange diagram is a traditional tool of undergraduate microeconomic theory that depicts the mutually beneficial gains from voluntary trade. The authors take the analysis one step further. They identify the buyer's and seller's surpluses that accrue to both trading parties in the Edgeworth diagram. This is a straightforward exercise…

The author derives the probability that price discrimination improves social welfare, using a simple model of third-degree price discrimination assuming two independent linear demands. The probability that price discrimination raises social welfare increases as the preferences or incomes of consumer groups become more heterogeneous. He derives the…

This chapter introduces the key economic concepts, models, and methods that can help inform institutional research in higher education. (Contains 1 table and 9 figures.)