What information theory can tell us about quantum reality
  An investigation of Einstein's ``physical'' reality and the concept of quantum reality in terms of information theory suggests a solution to quantum paradoxes such as the Einstein-Podolsky-Rosen (EPR) and the Schroedinger-cat paradoxes. Quantum reality, the picture based on unitarily evolving wavefunctions, is complete, but appears incomplete from the observer's point of view for fundamental reasons arising from the quantum information theory of measurement. Physical reality, the picture based on classically accessible observables is, in the worst case of EPR experiments, unrelated to the quantum reality it purports to reflect. Thus, quantum information theory implies that only correlations, not the correlata, are physically accessible: the mantra of the Ithaca interpretation of quantum mechanics. 
C. Adami and N.J. Cerf