The Value of Information in the Interactive, Integrative and Evolutionary World Model: A Case Study

Gabor Korvin

doi:10.1108/eb018878

The Value of Information in the Interactive, Integrative and Evolutionary World Model: A Case Study

Gabor Korvin^*

^*Corresponding author for this work

King Fahd University of Petroleum & Minerals

Research output: Contribution to journal › Review article › peer-review

Abstract

The lecture attacks a fifty-year-old paradigm which claims that “information” (as the term is understood by Communication Engineers) cannot have any moral or economic value. We shall show by a Monte Carlo simulated oil-exploration study how this paradox disappears in the Islamic Interactive, Integrative and Evolutionary (IIE) world model. In the IIE exploration model, information is used to lead to more profit, and (part of) the profit is utilised to gain information.

Original language	English
Pages (from-to)	92-100
Number of pages	9
Journal	Humanomics
Volume	18
Issue number	3
DOIs	https://doi.org/10.1108/eb018878
State	Published - 1 Mar 2002

ASJC Scopus subject areas

Philosophy
Economics and Econometrics

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10.1108/eb018878

Cite this

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abstract = "The lecture attacks a fifty-year-old paradigm which claims that “information” (as the term is understood by Communication Engineers) cannot have any moral or economic value. We shall show by a Monte Carlo simulated oil-exploration study how this paradox disappears in the Islamic Interactive, Integrative and Evolutionary (IIE) world model. In the IIE exploration model, information is used to lead to more profit, and (part of) the profit is utilised to gain information.",

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AB - The lecture attacks a fifty-year-old paradigm which claims that “information” (as the term is understood by Communication Engineers) cannot have any moral or economic value. We shall show by a Monte Carlo simulated oil-exploration study how this paradox disappears in the Islamic Interactive, Integrative and Evolutionary (IIE) world model. In the IIE exploration model, information is used to lead to more profit, and (part of) the profit is utilised to gain information.

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The Value of Information in the Interactive, Integrative and Evolutionary World Model: A Case Study

Abstract

ASJC Scopus subject areas

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