Chapter

Information Cost and Economic Organization

Mark Casson

in Information and Organization

Published in print January 2001 | ISBN: 9780198297802
Published online November 2003 | e-ISBN: 9780191596063 | DOI: http://dx.doi.org/10.1093/0198297807.003.0001
Information Cost and Economic Organization

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Continuous volatility in the economic environment creates a continuous need for new information. Information is costly to obtain, and so must be searched out using an efficient procedure. The characteristics of efficient procedures—their sequential nature, and the priority given to information on major sources of volatility—are explained.

Keywords: information cost; sequential; synthesis; volatility

Chapter.  13822 words.  Illustrated.

Subjects: Microeconomics

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