The Blackwell and Dubins Theorem and Rényi’s Amount of Information Measure: Some Applications.

This survey paper provides first for an overview of how quantum-like concepts could be used in macroscopic environments like economics. The paper then argues for the use of the concept of a quantum mechanical wave function as an ‘information wave function’. A rationale is provided on why such interpretation is reasonable. After having defined the ‘information wave function’, Ψ( q), we argue how | Ψ( q) |2 can be interpreted as a Radon-Nikodym derivative. We consider how we can connect, using the | Ψ( q) |2, the Blackwell and Dubins (Ann. Math. Stat. 33:882–886, ) Theorem with Rényi’s (Proceedings of the Fourth Berkeley Symposium on Mathematical Statistics and Probability, ) measure of quantity of information. We also define ‘ambiguity of information’ and ‘multi-sourced information’. [ABSTRACT FROM AUTHOR]