CAREER: Measuring Information's Contribution: Research on Value and Productivity

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Measuring Information's Contribution: Research on Value and ProductivityCAREER #98-76233Van Alstyne, Marshall W.The University of Michigan, Ann ArborThis career development plan developes research and education agendas along two dimensions: how to measure information value and how to evaluate information productivity.The first study devolopes a proof-theoretic model of value by combining concepts of utility and time-discounting from economics and procedural information from computer science. By modeling information as an uncertainty reducing series of instructions, a decision maker creates a call on a particular result. Financial options theory might then be used to value the information instrument. The significance is that numerous management decisions might benefit from having better information value tools.The second study provides an empirical complement by gathering data on management practices that contribute to productivity. Software monitors will track organizational information flows. Interviews will provide context. Hypotheses - such as the value of decentralized access, focused communications, and incentives to promote sharing - will be tested using econometrics. Study benefits include better understanding of information productivity, use of person rather than firm level data, and newly developed integration metrics.Related educational activities include mentoring Ph.D. research assistants, teaching these topics in a new Information, Economics, Management, and Policy track, and codeveloping dual degrees in Public Policy, Electrical Engineering & Computer Science, and Law.