Special HDR & Faculty Lecture with Prof Richard Watson

A theory of information compression: When judgments are costly 

With Distinguished Professor Richard T. Watson, University of Georgia   

Don’t miss hearing from one of the world’s leading business systems experts and global educator in applicable, credible knowledge for business leaders.

A theory of information compression (TIC) conceptualizes how anticipated judgment costs can affect decision quality. The presentation theorizes—inductively from decision-making in medicine, energy pricing, auditing, and financial analytics—how judgment networks can exacerbate financial and non-financial judgment costs that compress information. Information compression occurs when a process intended to inform decision-making generates information that has little variation. This can reduce decision quality and market efficiency.

This special presentation for HDRs will offer potential remedies to mitigate the adverse societal consequences. It uses complementary theoretical perspectives to nomologically contextualize how information compression arises. An information compression measure based on information entropy is defined. TIC’s theoretical crux is that the expansion of a judgment network’s publicness exacerbates information compression by increasing judgment costs for some entities in a judgment network. Access the article

Thursday, 24 August 2023 | 11:00am – 12:00noon | ICB (GP V310)

Light refreshments will be provided.

RSVP: Email future.enterprise@qut.edu.au