> For the complete documentation index, see [llms.txt](https://book.tradinginternship.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://book.tradinginternship.com/understanding-markets/information.md).

# Information

It is a common recommendation for people involved in systems of chance to delve into at least a basic study of game theory. I do not see the utility of this for trading liquid markets. Markets are founded upon patterns, reward & risk, and the interaction of the individual with the market. There is no decision-maker on the system-side. Understanding information theory, introduced by Claude Shannon in the 1940s, does appear to be of utility.