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Semantic Network in Information Processing for the Pork Market

Author

Listed:
  • Rydval, J.
  • Bartoška, J.
  • Brožová, H.

Abstract

The main aim of this paper is to capture the elements of individual information frames and their relations using semantic network; and to express the loss of information and information asymmetry in the market environment. Preferences of elements in the network are evaluated by the Analytical network process. The benefits of applying semantic networks in the market environment are in increasing consumer information and reducing information asymmetry. The use of semantic networks will be shown in the analysis of the information frames of the producer, distributor and consumer in the pork market. The consumer’s frame expresses expectations and preferences, according to which decisions are made. Producer operates with greater range of information about the product than is available to the consumer. Distributor receives information from both the producer and from the consumer, but this information is not usually fully shared to the consumers or producers. This creates information asymmetry.

Suggested Citation

  • Rydval, J. & Bartoška, J. & Brožová, H., 2014. "Semantic Network in Information Processing for the Pork Market," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 6(3), pages 1-9, September.
    • Handle: RePEc:ags:aolpei:188736
    DOI: 10.22004/ag.econ.188736
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    References listed on IDEAS

    as
    1. Bishop, John, 2006. "Drinking from the Fountain of Knowledge: Student Incentive to Study and Learn - Externalities, Information Problems and Peer Pressure," Handbook of the Economics of Education, in: Erik Hanushek & F. Welch (ed.), Handbook of the Economics of Education, edition 1, volume 2, chapter 15, pages 909-944, Elsevier.
    2. Lindsey-Mullikin, Joan & Petty, Ross D., 2011. "Marketing tactics discouraging price search: Deception and competition," Journal of Business Research, Elsevier, vol. 64(1), pages 67-73, January.
    3. Druckman, James N., 2001. "Evaluating framing effects," Journal of Economic Psychology, Elsevier, vol. 22(1), pages 91-101, February.
    4. Saaty, Thomas L., 1990. "How to make a decision: The analytic hierarchy process," European Journal of Operational Research, Elsevier, vol. 48(1), pages 9-26, September.
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