Problem
1. Drawing on how does information have "value" in the information economics framework? Compare this to SFAC No.2, in which the usefulness of accounting is defined in terms of predictive and feedback value.
2. Are the Lev paper, which talks about the low correlation between earnings and stock returns, and the Ou and Penman paper, which sees the possibility of making abnormal returns based upon published financial data, in conflict with each other or complementary to each other?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.