In this paper we introduce NIESIM (Network Information Economics SIMulation), a software for simulating a mobile communications scenario and studying the value of information in the context of mobile network management. The modelling principles and the simulation strategy used to design and develop NIESIM software are introduced, along with simulation results. We consider an application of NIESIM to support the definition of the grade of service in a network that is exposed to failures. An exploratory discussion of the findings and their implications to future work is also presented.