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Information asymmetry in economics
Kolar, Jan
The subject of the article is the concept of information asymmetry, which currently belongs among highly discussed themes in economics. In the article, we deal with the basic concepts, which play an important role in the overall perspective on the given issue. One of them is moral hazard, which is a fundamental consequence of information asymmetry. The market subjects or individual people often misuse their superior informational capabilities for their own use, but at the same time they inadvertently contribute to the inefficiency of the specific market, which can lead to extensive market failure. Other important consequences include so-called adverse selection, which results in the gradual displacement of good products by inferior ones. The occurrence of adverse selection in the specific market then results in pressure to reduce prices. In particular, the article analyses the current state of knowledge in the area of information economics, on the basis of previously published articles. We also deal with the effect of modern technology on the economic mechanism and information asymmetry. One of them is the internet, which plays a key role in the transmission of information. The aim of the article is to perform an analysis of the current state of knowledge in the area of information asymmetry on the basis of relevant published articles, and thus create a comprehensive and compact perspective on the given issue. An important section is the analysis of the possible impact of modern technology on information asymmetry, where own conclusions are drawn on the basis of findings by various authors.
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Sharing of Economic Information and Knowledge in the Context of ICT Development
Dlouhý, Vladimír ; Očko, Petr (advisor) ; Dombrovská, Michaela (referee)
(in English) The subject of the Diploma thesis is the process of sharing of economic information and knowledge suitable for corporate governance. A special attention is focused on an effective utilization and development of information and communication technologies (ICT). At the beginning, information society and basic terms are defined, such as information economy, economics of information, information management and knowledge management. Furthermore, the strategic importance of enterprise information systems and other solutions for improving business information processes are described in general. The final chapters deal with Competitive Intelligence (CI) and Business Intelligence (BI) and contain the overview and analyses of the most important information products of economic information from commercial and non-commercial sectors [Author's abstract].
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