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Considerations Regarding the Significance, Quality and Value of Economic Information

Author

Listed:
  • Constantin Baron
  • Narcisa Isaila

    ("Dimitrie Cantemir" Christian University)

Abstract

The information and communication led to the formation of human society, which explains the strong relationship between society and information. From the applied informatics point of view, the ratio between data and information, as first level, offers the possibility of obtaining knowledge from information derived on the basis of reasoning. Consequently the information allow the creation of new knowledge, which explains the transition to the knowledge society starting to the information society, the dependence between them being quite clear. From economic point of view, the information value has a particular importance and the cost depends by its value.

Suggested Citation

  • Constantin Baron & Narcisa Isaila, 2013. "Considerations Regarding the Significance, Quality and Value of Economic Information," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(2), pages 43-47, June.
    • Handle: RePEc:khe:journl:v:5:y:2013:i:2:p:43-47
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    More about this item

    Keywords

    Information; data; knowledge; encoding; information cost;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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