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information

knowledge possessed by persons and firms about products, customers, suppliers, prices, delivery terms, etc. Information has an economic value when it is scarce and is not available to all potential parties to a TRANSACTION or CONTRACT. Firms spend large amounts of money on product and process research and development and on market research and other forms of data-gathering in order to try to gain information to reduce UNCERTAINTY.

However, firms need to balance the costs of gathering information against the value of additional information to them. See MARKETING RESEARCH, DATA PROCESSING, INFORMATION MANAGEMENT.

information

knowledge possessed by persons and firms about products, customers, suppliers, prices, delivery terms, etc. Information has an economic value when it is scarce and is not available to all potential parties to a TRANSACTION. For example, if information is not widely available to all parties to a CONTRACT, then one party to the contract can use his or her superior knowledge to his or her advantage at the expense of other parties to the contract (see ASYMMETRY OF INFORMATION, ADVERSE SELECTION).

Firms spend large amounts of money on product and process research and development and on market research and other forms of data-gathering in order to try to gain information to reduce UNCERTAINTY. However, firms need to balance the costs of gathering information against the value of additional information to them.

References in periodicals archive ?
Their empirical evidence showed that the Brazilian capital market did not behave in an informationally efficient manner during the period analyzed, in terms of mergers and acquisitions.
On the other hand, larger institutions might be less prone to market discipline due to investors' expectations of government guarantees or their increased complexity, which might make them more informationally opaque.
(165) Since relationship banking can sometimes be the only lending technique that affords informationally opaque borrowers the ability to obtain financing, (166) "[m]any of the loans small business owners depend on to start new businesses, or expand existing businesses, will not be available if community banks disappear" because credit unions, big banks, and other alternative sources of credit do not consider such factors.
The frequent traded stocks are informationally efficient and able to react instantly to any market information so that their price movement is linked with the market.
An educational video is informationally dense; the visual aids tend to be highly detailed, and it's ambiguous as to what in them is relevant.
Relying on just the Times or the Post, or on Fox News or NPR, will leave you informationally malnourished--not just uninformed but misinformed.
We find that lending relationships mitigate the influence of CEO risk-taking incentives on loan spreads, especially for informationally opaque firms.
So our actions encode space with social information, and such informationally differentiated space plays a part in easing the representational bottleneck in our memories.
It stressed in its recommendations on "the need that the world and the media, international organizations and civil society institutions, and social networking to fight the sources of intellectual media to Daash and respond them intellectually, informationally, psychologically and technically." The conference pointed out the importance of working with the United Nations and international organizations in the field of awareness that Daash is the enemy of humanity and the Islamic religion, which calls for mercy and not to violence and terrorism.
Its truest expression is an interaction with the consumer at a very granular, informationally intimate and lifestyle-enhancing way.

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