Bucharest University of Economic Studies, Romania
Information is ubiquitous and still difficult to obtain on demand, over-abundant and still scarce to decision-makers, subject to intellectual property rights while, by its very nature, it is meant to circulate freely. The increased digitization of information and the advent of the Internet – the key medium that accommodates both its “stocks” and “flows” – account for a wide range of changes propagating across the economy, institutions and daily life: open source software, free content, online communities etc.
As Herbert Simon aptly noted, a wealth of information generates a scarcity of attention, making of the latter a high business stake.
Digital technologies are powering the dynamics of information and allow for certain of its features to reach their extreme: infinte malleability, limitless reproducibility, near-to-zero cost of copying and storing, instant propagation and acessibility through networks. As such, disruptive business models and practices emerge, e.g. pricing at zero, freemium, monetisation of attention etc.
This presentation is aimed at showing that digital technology does influence our notion of information, with a view to highlighting the “what”s the “why”s and the “how”s information is being managed, traded and used in the digital economy.