Construct · 1 fields · 1 citations

Arrow information paradox: a standalone construct

One name. One construct. A landmark on the map.

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Arrow informationparadox1 CONSTRUCTArrow informationARROW · ECONOMICS OF

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Economics of innovation

the problem that a buyer cannot value information without seeing it, but once it is disclosed the buyer has acquired it without paying.

In economics of innovation, Arrow information paradox refers to the problem that a buyer cannot value information without seeing it, but once it is disclosed the buyer has acquired it without paying. This meaning comes from Arrow (1962) in The Rate and Direction of Inventive Activity.[1]

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Nearby constructs

Arrow replacement effect1 fields · 1 citationsanchor · a standalone constructintellectual property2 fields · 2 citationsjingle · one word, two carriersknowledge6 fields · 12 citationsjingle · one name, six constructs

References

  1. Arrow, K. J. (1962). Economic Welfare and the Allocation of Resources for Invention. In The Rate and Direction of Inventive Activity (pp. 609-626). Princeton University Press. https://doi.org/10.1515/9781400879762-024

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