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⁴ Starting with von Neumann, J. and Morgenstern, O., The Theory of Games and Economic Behavior (Princeton, NJ, 1944).Google Scholar

⁵ Von, Neumann and Morgenstern, , Theory of Games (3rd edn, 1953), p. 7Google Scholar; Friedman, M. and Savage, L. J., ‘The utility analysis of choices involving risk’, Journal of Political Economy, 56 (1948).CrossRefGoogle Scholar

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¹² Hayes, R. M., ‘Measurement of information’, Information Processing and Management, 29 (1993)CrossRefGoogle Scholar, complains of the confusion among the terms ‘knowledge’, ‘fact’ and ‘information’ in the various disciplines.

¹³ Rasmusen, , Games, pp. 48ff.Google Scholar; for a critique of this concept of information see Dosi, G. and Egidi, M., ‘Substantive and procedural uncertainty: an exploration of economic behaviour in changing environments’, Journal of Evolutionary Economics, 1 (1991).CrossRefGoogle Scholar

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