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About this product
- DescriptionWe live in an Information Age of overabundant data and lightning-fast transmission. Yet although information and kwledge represent key factors in most ecomic decisions, we often forget that data, information, and kwledge are products created and traded within the kwledge ecomy. In Gurus and Oracles, Miklos Sarvary describes the information industry--the far-flung universe of companies whose core business is to sell information to decision makers. These companies include such long-established firms as Thomson Reuters (which began in 1850 with carrier pigeons relaying stock market news) as well as newer, dominant players like Google and Facebook. Sarvary highlights the special characteristics of information and kwledge and analyzes the unusual behaviors of the markets for them. He shows how techlogy contributes to the spectacular growth of this sector and how new markets for information change our ecomic environment. Research in ecomics, business strategy, and marketing has shown that information is different from other goods and services; this is especially true in competitive settings and may result in strange competitive market outcomes. For example, Sarvary points out, unreliable information may be more expensive than reliable information; information sellers may be better off inviting competitors into their market because this may allow them to increase their prices; and competition may lead to increased media bias--but this may benefit consumers who want to discover the truth. In Gurus and Oracles, Sarvary explores the implications of these and other peculiarities for information buyers and sellers.
- Author BiographyMiklos Sarvary is Professor of Marketing, Dean of Executive Education, and Director of the Learning Information Center at INSEAD, Fontainebleau, France.
- Author(s)M. Sarvary
- PublisherMIT Press Ltd
- Date of Publication20/01/2012
- SubjectSales & Marketing
- Place of PublicationCambridge, Mass.
- Country of PublicationUnited States
- ImprintMIT Press
- Content Note4 b&w photos, 2 b&w illus., 13 figures, 8 tables
- Weight431 g
- Width152 mm
- Height229 mm
- Spine14 mm
- Interest AgeFrom 18
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