information

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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 ?
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.
First, because relationship lending mitigates information asymmetry and enhances monitoring intensity through proprietary information production, the effectiveness of relationship lending on mitigating borrower moral hazard should be lower for informationally transparent firms than for informationally opaque firms.
Thus, it indicates that the present market prices do not reflect the outcome of all the past information and markets are informationally inefficient to reflect any given change in the information.
Markets are informationally efficient if only a critical mass of participants factored the relevant information into prices previously.
The novel insight of Akerlof was that information asymmetry would not only hurt the informationally disadvantaged party but sometimes the advantaged party as well.
I liked the book's burden, which I took to be that of forging a metaphysics capable of grounding an informationally porous universe to recover, legitimate, and sustain creation's enchantments: those meanings, values, and purposes uniquely given to human intelligences that have been progressively dispatched into the realm of epiphenomena ever since the rise of early modern science.
As economist Gary Gorton and others have argued, because money instruments are primarily acquired and held as a transactional medium, they are most efficient when they are informationally insensitive, meaning when they are not reacting in price or liquidity to new information about bank risk.
Amid this anarcho-capitalism, Hiro Protagonist, a hacker, a pizza delivery boy, a stringer for the privatized CIA, and, in the Metaverse (a world that can be accessed through any computer) a samurai swordfighter, gets wind of a drug called Snow Crash that travels both biologically and informationally.
Do Regulators Need to Control this Tool of Informationally Efficient Markets?
In addition, the private markets are more informationally opaque and include a different mix of investors than the public markets, and so the mixed findings on the role of agents in the public markets highlight the nonobvious role of agents in the private market.
Clients can find more information from a search engine than they can take in, and they do not see their library as a place to get more informationally nutritious content.

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