The article presents the author's views on the concepts of information value, in reference to an article written by Theodore J. Mock for the October 1971 issue of the periodical "The Accounting Review." The author says that Mock attempted to extend the theoretical work of information economics from a decision value focus into model and feedback information value. The author adds that Mock's definitions of information value add nothing new to the theoretical work of information economics. Furthermore, the measure of information value that has been previously developed in information economics subsumes the measures of Mock.

This article presents information on cost coefficients in a linear programming model. The discussion indicates that opportunity cost is not necessarily the appropriate definition. A product mix linear programming (LP) model is used to illustrate ideas. In considering what definition of input prices is relevant in LP, other researchers have concluded that input quantities should be prices using an opportunity cost per unit of input, which is the highest return foregone because the input is used in the system modeled. Researcher H.G. Jensen assumes that the best alternative foregone from which these opportunity costs are derived is either the alternative of not acquiring the inputs or the sacrificed alternative of selling the inputs if they are on hand. If opportunity costs per unit are used to price inputs on hand, then the optimal solution indicates the excess profit obtained by using these inputs in the system modeled over what could be obtained by immediately liquidating them. This profit measure, therefore, reflects a short-run view of the firm.

Reviews the book "Applications of Statistical Sampling to Auditing," by Alvin A. Arens and James K. Loebbecke.

Reviews the book "Decision Theory," by D. J. White.