Economic Value

Chapter

Abstract

Individuals constantly exchange information, goods, and services. Possessing information about these often results in more beneficial exchanges. An individual’s assets and income are often used to obtain goods, such as food or housing, or to obtain services, such as a paying someone to improve one’s residence. An asset, such as possessed information, may prove useful for its possessor, with the economic value of the information often being dependent on the value or expected value of actions or decisions that are made, or might be made, using the information. By value in this chapter we always mean the economic benefit or worth, rather than the characteristics of a variable, such as that x is 3.

Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  1. 1.School of Information and Library ScienceUniversity of North CarolinaChapel HillUSA

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