The micro‐ and macroeconomics of information

Braman, Sandra

doi:10.1002/aris.1440400108

Cited by 13 publications

(20 citation statements)

References 168 publications

(179 reference statements)

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“…On the other hand, the creation and diffusion of new technologies, in particular, result in economic growth, which is a fundamental premise of the endogenous growth theory (Romer, ). Hence, while this survey mostly concerns the microeconomics of knowledge regarding its generation, dissemination and use, it is good to bear in mind that these are not interesting and relevant questions for their own sake only, but have implications for macroeconomic issues as well (David and Foray, ; Braman, ).…”

Section: The Economics Of Knowledge As An Original Disciplinementioning

confidence: 99%

“…According to D.M. Lamberton (quoted in Braman, ), in 1976 information received its AEA classification and by 1984 at the latest questions in every AEA classification category were addressed from informational perspective. Today much of the research is confined to various field journals and serious efforts to synthesize this field are few.…”

Section: From Perfect Knowledge To Quantity Variety and Quality: Somentioning

confidence: 99%

“…Information economics largely traveled its own path (see, Stiglitz, 1985Stiglitz, , 2002Braman, 2006;Arrow, 2009). The final breakthrough of the field was due to the analysis of asymmetric information, where one party knew more about the object of the contract than the other, which was acknowledged by the Nobel Prize in Economics shared by Akerlof, Spence andStiglitz in 2001.…”

Section: Decision-making Uncertainty and Market Coordinationmentioning

confidence: 99%

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Economic Analysis of Knowledge: The History of Thought and the Central Themes

Leppälä

2013

Journal of Economic Surveys

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte.

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Section: The Economics Of Knowledge As An Original Disciplinementioning

confidence: 99%

Section: From Perfect Knowledge To Quantity Variety and Quality: Somentioning

confidence: 99%

Section: Decision-making Uncertainty and Market Coordinationmentioning

confidence: 99%

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Economic Analysis of Knowledge: The History of Thought and the Central Themes

Leppälä

2013

Journal of Economic Surveys

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“…Economics of information is an “umbrella term” that refers to issues raised by information at every level of analysis; it specifically deals with the problem of understanding information creation, processing, flows, and use from an economic perspective (Braman, 2006). Its emergence is described as a response to: (1) the deficiencies of economic theory that assumed perfect information; (2) the failure of policy; and (3) the emergence of intelligent electronics that enhanced the capacity for communication, computation, and control (Lamberton, 1984b).…”

Section: Economics Of Informationmentioning

confidence: 99%

Economic theory as it applies to public sector information

Nilsen¹

2010

Annual Review Info Sci & Tec

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IntroductionThis chapter 1 reviews the economics literature pertaining to public sector information. In addition, the economic arguments put forward in government studies and policy documents are reviewed, focusing on the current push for harmonization of public sector information policy across the European Union and the debate as to which model of information dissemination is preferable (i.e., the U.S. open access model versus the more restrictive European model). Some works by economists that appeared in the library and information science (LIS) and other literatures are covered, but the LIS literature in general is not reviewed.The term "public sector information" (PSI) is used here rather than "government information" or "official information." The terms are synonymous, although PSI can be construed more broadly, to include any information produced by public sector bodies, including cultural and educational institutions. Public sector information (and content) is any kind of information that is produced and/or collected by a public body as part of the institution's mandated role. It is directly generated by, and associated with, the functioning of the public sector and is readily useable in commercial applications (Organisation for Economic Co-operation and Development, Directorate for Science, Technology and Industry, Working Party on the Economy, 2006). As will be discussed, the economic value of its commercial use is the focus of much recent attention in Europe.The chapter begins with a brief summary of neoclassical economic theory, including the concepts of market failure and public goods, to lay the groundwork for the review. Readers familiar with these concepts may wish to move directly to the section on the economics of information. The literature on the history of information economics; the definitions of information used by economists; and their concepts of information as a public good, as a commodity, and as a contributor to social value are addressed. The review then focuses on the economic arguments and rationalization for public sector versus private sector supply of information, the impact of PSI on general economic efficiency, commercial re-use, value adding, and revenue generation. Then the literature on the pricing of information and the arguments around the imposition of user fees for PSI, and, finally, the arguments for CHAPTER 10 419 and against copyrighting PSI are reviewed. The vast literature on the economics of e-government and of privatization is not addressed. Neoclassical Economic TheoryNeoclassical economic theory and social welfare theory are of particular interest for this review because both underlie the development of the economics of information. As Nobel economist Donald Lamberton pointed out (1994a), neoclassical economics provided a base and a language for information economics, which was necessary in order to keep an open dialogue with the economics profession, as well as with international and national decision makers in industry and government.According to the neoclassic...

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“…Several previous ARIST chapters have dealt with different aspects of the economics of information throughout the years (Hindle & Raper, 1976; Lamberton, 1984; Mick, 1979; Spence, 1974; Wilson, 1972; and more recently, Braman, 2005). Although these reviews have some interesting general information on costs/benefits and methodologies, they do not deal specifically with the scholarly communication process.…”

Section: Introductionmentioning

confidence: 99%