Rethinking the Solow Paradox by the Means of Information Use Formalisms

This article explores “information paradox” in economic theory, formulated by Robert Solow - from a wider perspective, i.e., drawing insights from fields such as system science, cybernetics, complexity science, and action theory. The aim is to develop a formal representation and predictive explanati...

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Bibliographic Details
Published inProceedings of the XXth Conference of Open Innovations Association FRUCT Vol. 34; no. 2; pp. 237 - https://youtu.be/kJq4K9I0MAo
Main Author Alexander S Geyda
Format Journal Article
LanguageEnglish
Published FRUCT 01.11.2023
Subjects
cybernetics
information
information quality
information technology
solow paradox
transdisciplinary
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Summary:This article explores “information paradox” in economic theory, formulated by Robert Solow - from a wider perspective, i.e., drawing insights from fields such as system science, cybernetics, complexity science, and action theory. The aim is to develop a formal representation and predictive explanation of information use, which could lead to accurate predictions of the impact of information use, based on mathematical models use. The author proposes a graph theoretic model in the form of a possible sequences of complex states and transitions, which can be used to create graph theoretic and formal algebraic models which allows calculations of quantitative measures of success for information use in systems, as well as measures of entropy change caused by information use. The article highlights several research directions in this area, related to creation of information application mathematical models. The article presents a new approach to solving Solow Paradox as well as the multidisciplinary problem of formal assessment of information use, using mathematical models and methods to provide predictive insights.
ISSN:2305-7254
2343-0737
DOI:10.5281/zenodo.10426320