What is a bit?

How can we quantify/measure an information source? We introduce the ideas of Nyquist & Hartley using a simple game involving yes/no questions. It's important to realize all of this happened before Claude Shannon arrived on the scene. However, this measure applies only when communication involves random sequences...

References:
Hartley - Transmission of Information http://www3.alcatel-lucent.com/bstj/v...
Nyquist - Certain Factors Affecting Telegraph Speed http://www3.alcatel-lucent.com/bstj/v...

Abstract