Information as a Commodity: Assessment of Market Value

Publisher Summary

This chapter focuses on the problem of assessing the market value of new types of commodities. The evolution of the marketplace for information appears to be governed by impulses stemming from the displacement of information, knowledge, or skill from persons to artifacts. This process of displacement is an extension of the commoditization of labor, a process that began in earnest with the industrial revolution. Triggered by advances in computers and telecommunications, it is believed that this displacement process is gaining momentum with the integration of these technologies. The chapter examines the specific contributions of various attributes of information commodities to their capacity to inform, and hence, their respective contributions to market value. It discusses some of the main lines of development in selected commercial areas, namely, manufacturing, banking, electronic information, securities trading, credit reporting, and software. These areas cover the production of goods, the services provided, and new information activities.