Tag Archives: information

Knowledge as a factor of production. Knowledge is broader than information. Knowledge includes tacit knowledge, skill, and critical and creative thinking. In other words, the study of knowledge involves epistemology, logic and language, psychology, and other relevant fields in addition to information.  Information can be formalized but a great deal of knowledge cannot, at least given present limitations and future prospects through technology. Labor as the human component of...

Information overload.Intel TodayCIA Dr Richards J. Heuer: “Information Collection vs Analytical Methods”

Information is the basis for our economic and financial decisions. As buyers, we collect information about products before entering into a transaction. As investors, the same goes for information about firms seeking our funds. This is information that sellers and fund-seeking firms typically have. But, when it is too difficult or too costly to collect information, markets function poorly or not at all. This form of asymmetric information―where two parties to a potential transaction have...