Thursday, April 25, 2013

You have it, but you don't!

For quite a while, I read so frequently about how information available on the internet would lead to better choices for the consumers. And I would say, it has, to quite an extent.

Here's a different reading.

While information is available, assimilation of information has become difficult. It has been difficult to squeeze out time for quite a few of us in spite of the efficiencies promoted by the internet - in the form of relentless publishing, communication and availability of information. And therefore, information still isn't uniformly grasped by all the parties participating in business.

According to wikipedia,
In economics and contract theoryinformation asymmetry deals with the study of decisions in transactions where one party has more or better information than the other.
In spite of availability of information, asymmetry exists.

So when information's available, what would make people grasp it, given that they have the time to do the grasping? What would reduce the asymmetry?