O'Reilly logo

Information Space (RLE: Organizations) by Max Boisot

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 1

ABSTRACT

The value of information, if taken in the Walrasian sense of utility and scarcity, is indeterminate and can never be fully ascertained. The very act of ascertaining its utility reduces its scarcity. As a consequence, only those information goods whose utility is manifest can be traded unproblematically.

Until quite recently, economics treated information almost exclusively as a support to transactions rather than as an object of transactions in its own right. Yet today, with information becoming increasingly the focus of transactions, its indeterminacy, with respect to value, poses an important theoretical challenge. Nevertheless, in spite of the fact that information issues have now become ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required