1. John Seely Brown and Paul Duguid, The Social Life of Information, Harvard Business School Press, 2000, p. 15.
2. See James Gleick, The Information: A History, A Theory, A Flood, 2011, Pantheon Books.
3. For instance, informational asymmetries occur in a great many contexts such as a bank does not have complete information about lenders’ future income; an insurance company cannot fully observe policyholders’ responsibility for insured property and external events which affect the risk of damage; an auctioneer does not have complete information about the willingness to pay of potential buyers; the government has to devise an income tax system without much knowledge about the productivity of individual citizens; etc.
4. Albert Borgmann, Holding On to Reality: The Nature of Information at the Turn of the Millennium, University of Chicago Press, 1999, pp. 218–19.
5. T. Roszak, The Cult of Information: The Folklore of Computers and the True Art of Thinking, Pantheon, 1986, p. 19.