Applied Īpplied microeconomics includes a range of specialized areas of study, many of which draw on methods from other fields. It is also possible to more fully understand the impacts - both positive and negative - of agents seeking out or acquiring information. For example, if one does loosen this assumption, then it is possible to scrutinize the actions of agents in situations of uncertainty. This gives rise to many results which are applicable to real life situations. From a game theory approach, we can loosen the usual constraints that agents have complete information to further examine the consequences of having incomplete information. The economics of information has recently become of great interest to many - possibly due to the rise of information based companies inside the technology industry. These special characteristics (as compared with other types of goods) complicate many standard economic theories. It is easy to spread but hard to control. Information economics or the economics of information is a branch of microeconomic theory that studies how information and information systems affect an economy and economic decisions.
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