The dual approach to the value of information: An appraisal of use and exchange values

Information Processing & ManagementPublished 1 January 1986

Aatto J. Repo

DOI10.1016/0306-4573(86)90072-5

Source URL

Citations41

SJR quartileQ1

SJR score2.06

SNIP2.91

TL;DR

It is suggested that it is impossible to measure the total value of information; instead some aspects of the value-in-use of information, and the exchange values of information products and services in the market can be measured.

Abstract

Research on the value of information in the field of information science from the information use viewpoint is reviewed and analyzed. Value concept in philosophy forms the starting point for the analysis. Practical values of different types of information are analyzed to study the problems in assessing the use value (or value-in-use) and the exchange value of information. Existing research on the value of information is presented and analyzed from this new angle to the economics of information studies. As a result, it is suggested that it is impossible to measure the total value of information; instead some descriptions of the value-in-use and the exchange values can be given. Some aspects of the value-in-use of information (described by examples and case-studies), and the exchange values of information products and services in the market can be measured.

Keywords

Computer Science

Medical Entomology and ZoologyThe Study of Information: Interdisciplinary Messages

520 Citations1984Fritz Machlup, Una Mansfield

Library & Information Science ResearchAnnual Review of Information Science and Technology

137 Citations2002Peiling Wang

Reading annual review of information science and technology volume 11 is also a way as one of the collective books that gives many advantages.

Journal of the American Society for Information ScienceValue‐Added Processes in the Information Life Cycle

105 Citations1982Robert S. Taylor

A different way of looking at information systems is developed in which the information use becomes the prime design factor rather than technology and content.

Information Processing & ManagementA conceptual analysis of information need

88 Citations1983Richard L. Derr

It is concluded that an information need is a condition in which certain information contributes to the achievement of a genuine or legitimate information purpose.

OmegaAn experimental study of the value of information

53 Citations1982Barry J. Epstein, William R. King

This study uses a multidimensional attribute approach to assess the value of information and reports on tests of hypotheses related to differences that have been assumed to exist among managers in various functional areas and at various hierarchical levels in a business firm.

Information Processing & ManagementThe value of information and computer-aided information seeking: problem formulation and application to fiction retrieval

21 Citations1984David R. Morbhead, Annelise Mark Pejtersen +1 more

The proposed value function is incorporated into a computer-based fiction retrieval system and evaluated using data from nine searches based on the ability of an individual's value function to discriminate among novels selected, rejected, and not considered.

Value of the energy data base

21 Citations1982Donald W. King, Janet M. Griffiths +2 more

An assessment was made of the Energy Data Base of the Department of Energy's Technical Information Center (TIC) as the major resource containing access information to the world's energy literature, EDB products and services are used extensively by energy researchers to identify journal articles, technical reports and other items of potential utility in their work.

View PDF

Information Processing & ManagementA lower bound cost benefit model for information services

20 Citations1978Robert M. Mason, Peter G. Sassone

An economic modeling approach to evaluating the costs and benefits associated with providing information services through information centers and develops a framework for understanding observations about the demand for scientific and technical information and integrating these observations with fundamental economic principles.

Empirical Foundations of Information and Software Science

15 Citations1985Jagdish C. Agrawal, Pranas Zunde

Implications of Users’ Value Perception for the Design of a Bibliographic Retrieval System

11 Citations1985Annelise Mark Pejtersen

The issue of information value with respect to the design of a retrieval system for fictive literature, which primarily aims at information seekers with needs related to cultural and educational activities, is raised.