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Estimating the Returns to Information: A Gaming Approach
Author(s) -
Debertin David L.,
Harrison Gerald A.,
Rades Robert J.,
Bohl Lawrence P.
Publication year - 1975
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238507
Subject(s) - key (lock) , production (economics) , computer science , marketing , microeconomics , business , economics , computer security
A management game incorporating key decisions in corn and soybean production was constructed. Participants in an experiment were asked to play the game by making a series of decisions. Some of the participants in the experiment were denied access to research information and/or feedback from the previous decision. Results of the experiment indicated a significant positive return to both information and learning from feedback.