search query: @indexterm RESOURCE ALLOCATION / total: 426
reference: 186 / 426
| Author: | Allen, B. |
| Title: | Information as economic commodity |
| Journal: | American Economic Review
1990 : MAY, VOL. 80:2, p. 268-273 |
| Index terms: | INFORMATION ECONOMICS INFORMATION ECONOMICS RESOURCE ALLOCATION PRICES |
| Language: | eng |
| Abstract: | The expression "economic commodities" refers to categories of items that are traded for a price. The commodity features of information are discussed. The very important roles of information are ignored in the theory of incentives , and in the study of messages and complexity in resource allocation processes and communication games. For the purpose of the discussions, economic agents desire information because it helps to maximize their state-dependent utilities. After a model definition of informations, its role in pure exchange economies is discussed. The problem of public goods and zero prices for information is treated, followed by the problems of information production. |
SCIMA