Information Goods

Abstract:

In economics as a scientific field multivariate analysis of information as an economic category should be applied. One of research areas ought to concern the role of information in explaining the rules of market (including information market) functioning in terms of imperfect information with taking into account business entities’ behaviour. These behaviour is the source of valuable, yet often overlooked information. Information plays crucial part in uncertainty reduction, transactional cost limiting and achieving material rationality. The second one is focused on information as a specific economic good which is being sold and bought on market. In that view the information goods (i.e. products and services) are in the scope of analysis. The third area concerns research of the meaning the information derivative, i.e. knowledge as an input (e.g. human capital) and output (e.g. innovation) in economic processes of resources allocation.