Information as an Economic Commodity

  • Kennet Arrow Stanford University, 450 Jane Stanford Way Stanford, CA 94305–2004
Keywords: information, markets, equilibrium, prices, rationality

Abstract

The role of information as a commodity in economic system is studied. It is shown that the information can influence the economic models consequences as well as the behavior of economic agents. The role of information on the markets is studied, in particular, the influence of information on the crises. The problems of information acquisition are considered and mechanisms of economic decision making under asymmetry of information are discussed.

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Published
2012-02-04
How to Cite
ArrowK. (2012). Information as an Economic Commodity. HSE Economic Journal, 16(2), 161-171. Retrieved from https://ej.hse.ru/article/view/29420
Section
Untitled section