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Arrow (1959) - Economic Welfare And The Allocation Of Resources For Invention (view source)
Revision as of 15:39, 20 June 2010
, 15:39, 20 June 2010→Information as a Commodity
and decide whether or not to buy it. Once the customer has this detailed knowledge, however,
the seller has in effect transferred the technology to the customer without any compensation."
Sourced from wikipedia, June 2010
Both properties will lead to non-optimal purchase of information and non-optimal allocation.
