信息定价与交易:维度模型的应用

Information pricing and trading:an application of dimensional model

构建了一个具有多维信息的模型,用于分析信息定价和交易,并根据模型讨论了均衡性质。分析结果表明,信息的公开可以增加社会福利。但若信息可以自由交易,市场参与者可能偏好不公开信息,此时社会福利可能受损。在信息定价方面,证明了在秘密信息交易中不对称信息可能给不道德的信息卖方带来额外的收入,这为信息立法方面的司法实践提供参考。

We construct a model with multi-dimensional information in order to analyze information pricing and trading.Our result shows that the disclosure of information increases social welfare.However,if information can be traded freely,market participants may prefer secret information,which jeopardizes social welfare.In terms of information pricing,we prove that in a secret information trading,asymmetric information may contribute to an extra income to the immoral information seller.This result provides guidance to legislation concerning information.