Information Economics Quotes & Sayings

The night Kate Harker decided to burn down the school chapel, she wasn't angry or drunk. She was desperate. — V.E Schwab

The reason for the success of this somewhat communist-sounding strategy, while the failure of communism itself is visible around the world, is that the economics of information are fundamentaly different from those of other products. — Bruce Perens

For one thing, I don't think that anybody in any war thinks of themselves as a hero. — Steven Spielberg

Just watching Jack Lemmon made me want to get into this business. — Hank Azaria

You know your marriage is in trouble when your wife would rather listen to a cackling drug lord than accept your apology. — Red Tash

If a measurement matters at all, it is because it must have some conceivable effect on decisions and behaviour. If we can't identify a decision that could be affected by a proposed measurement and how it could change those decisions, then the measurement simply has no value — Douglas W. Hubbard

If we forget that the newspapers are footnotes to Scripture and not the other way around, we will finally be afraid to get out of bed in the morning. Too many of us spend far too much time with the editorial page and not nearly enough with the prophetic vision. We get our interpretation of politics and economics and morals from journalists when we should be getting only information; the meaning of the world is most accurately given to us by God's Word. — Eugene H. Peterson

We repeat like a religious mantra the unquestioned benefits and power of science, information and economics, without inspecting the structures and methodology on which they are built. Many of these beliefs are insupportable and dangerous. For example, the notion that human beings are so clever that we can use science and technology to escape the restrictions of the natural world is a fantasy that cannot be fulfilled. Yet it underlies much of government's and industry's rhetoric and programs. — David Suzuki

I think that the use of copyright is going to change dramatically. Part of it is economics. There is just going to be so much content out there - there's a scarcity of attention. Information consumes attention, and there's too much information. — Esther Dyson

What is a price? It is a proposed point of agreement between a buyer and seller. The proposal is the key. It is not a marching order. Past prices represent deals done in history. Current prices represent possible deals in the future. Prices embed vast information about perceived realities: resource availability, consumer demand, cultural biases and habits, speculations about the future. The price is also an amazing tool. It provides an objective basis for accounting and the assessment of profit and loss. Without prices, real prices rooted in real market experience, we'd been lost. — Jeffrey Tucker

I damaged all the complicated bits of the brain to do with processing and emotional control. I was prey to every single emotion that swept over me and I couldn't deal with it. I had to re-learn things from scratch. — Richard Hammond

A pond full of information can sometimes be less useful than a cup full of insight — Gyan Nagpal

There is ample evidence that confirmation bias permeates throughout investors' decisions. For example, once an investor likes a stock, he is likely to seek out information that validates that stock. In a 2010 study, researchers showed that investors used message boards to seek out information that validated rather than challenged, stocks they owned (Park et al. 2010). If we own a stock, we tend to look for anything that validates our decision to buy it, and to reinforce why we should keep holding it. — Peter Mallouk

Today, reports of the day's events are conveyed to the viewing public by way of alternate universes, The Fox News cable channel conveys its version of reality, while at the other end of the ideological spectrum MSNBC presents its version. They and their many counterparts on radio are more the result of an economic dynamic than a political one. Dispatching journalists into the field to gather information costs money; hiring a glib bloviator is relatively cheap, and inviting opinionated guests to vent on the air is entirely cost-free. It wouldn't work if it weren't popular, and audiences, it turns out, are endlessly absorbed by hearing amplified echoes of their own biases. It's divisive and damaging to the healthy functioning of our political system, but it's also indisputably inexpensive and, therefore, good business. — Ted Koppel

Blogs are assailed on all sides, by the crushing economics of the business, dishonest sources, inhuman deadlines, pageview quotas, inaccurate information, greedy publishers, poor training, the demands of the audience, and so much more. These incentives are real, whether you're at The Huffington Post or some tiny blog. Taken individually, the resulting output is obvious: bad stories, incomplete stories, wrong stories, unimportant stories. — Ryan Holiday

Google was founded to get information to everybody. A by-product of that strategy is that we invented an advertising business which has provided great economics that allows us to build the servers, hire the employees, create value. — Eric Schmidt

Small men will always hurt things that are weaker than them. — A.C. Gaughen

I entered economics because of a course I took on 'information economics,' which I found fascinating. — Eric Maskin

If only one person were perfectly informed there could never be a general crisis. But the only perfectly informed person is God, and he does not play the stock market. — Robert Skidelsky

The complexity of our present trouble suggests as never before that we need to change our present concept of education. Education is not properly an industry, and its proper use is not to serve industries, either by job-training or by industry-subsidized research. It's proper use is to enable citizens to live lives that are economically, politically, socially, and culturally responsible. This cannot be done by gathering or "accessing" what we now call "information" - which is to say facts without context and therefore without priority. A proper education enables young people to put their lives in order, which means knowing what things are more important than other things; it means putting first things first. — Wendell Berry

The 1970s was the decade of developments in the new area of information economics. Search theory, which emphasized the need to gather information, was joined by models that featured asymmetric information, the case in which information differed across individual agents. — Dale T. Mortensen

As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns. — Joseph Stiglitz

A specter is haunting the modern world, the specter of crypto anarchy. Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a
totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the true name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive rerouting of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation. — Peter Ludlow

Who needs theory when you have so much information? But this is categorically the wrong attitude to take toward forecasting, especially in a field like economics where the data is so noisy. — Nate Silver

It is not titles that honor men, but men that honor titles. — Niccolo Machiavelli

I saw that publishing all over the world was deeply constrained by self-censorship, economics and political censorship, while the military-industrial complex was growing at a tremendous rate, and the amount of information that it was collecting about all of us vastly exceeded the public imagination. — Julian Assange

I don't believe that the big men, the politicians and capitalists alone, are guilty of war. Oh no, the little man is just as guilty, otherwise the peoples of the world would have risen in revolt long ago! — Anne Frank

There is a central difference between the old and new economies: the old industrial economy was driven by economies of scale; the new information economy is driven by the economics of networks ... — Carl Shapiro

I think I have had so many amazing moments in my life. — Eve

We have bigger houses but smaller families;
more conveniences, but less time;
We have more degrees, but less sense;
more knowledge, but less judgment;
more experts, but more problems;
more medicines, but less healthiness;
We've been all the way to the moon and back,
but have trouble crossing the street to meet
the new neighbor.
We've built more computers to hold more
information to produce more copies than ever,
but have less communications;
We have become long on quantity,
but short on quality.
These times are times of fast foods;
but slow digestion;
Tall man but short character;
Steep profits but shallow relationships.
It is time when there is much in the window,
but nothing in the room.

--authorship unknown
from Sacred Economics — Charles Eisenstein

Our fears are informed by history and economics, by social power and stigma, by myths and nightmares. And as with other strongly held beliefs, our fears are dear to us. When we encounter information that contradicts our beliefs, as Slovic found in one of his studies, we tend to doubt the information, not ourselves. — Eula Biss

Everything which might cause doubt about the wisdom of the government or create discontent will be kept from the people. The basis of unfavorable comparisons with elsewhere, the knowledge of possible alternatives to the course actually taken, information which might suggest failure on the part of the government to live up to its promises or to take advantage of opportunities to improve conditions
all will be suppressed. There is consequently no field where the systematic control of information will not be practiced and uniformity of views not enforced. — Friedrich Hayek

Said to Mairin;
"There's little decency to good loving" Maddie said. "If 'tis decent, it isn't much fun"! — Maya Banks

Some places will, however, be left behind. Not every city will succeed, because not every city has been adept at adapting to the age of information, in which ideas are the ultimate creator of wealth. — Edward Glaeser

As an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here - that usually you learn a lot more by thinking really hard about the data than you do by sniffing around for supposedly inside information. — Paul Krugman

The poets are almost always wrong about the facts. That's because they're not interested in the facts, only the truth. — William Faulkner

I have seen John Scalzi's pose-off picture. There are no words. There is only inarticulate whimpering. — Jim C. Hines

The war between the centrifuge of knowledge and the centripetal pull of power remains the prime conflict in all economies. Reconciling the two impulses is a new economics, an economics that puts free will and the innovating entrepreneur not on the periphery but at the center of the system. It is an economics of surprise that distributes power as it extends knowledge. It is an economics of disequilibrium and disruption that tests its inventions in the crucible of a competitive marketplace. It is an economics that accords with the constantly surprising fluctuations of our lives. — George Gilder

It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that the basic business would grow steadily, so there's more downside risk. The perfectly fabulous economics of this business could become grievously impaired. — Charlie Munger

Like casinos, large corporate entities have studied the numbers and the ways in which people respond to them. These are not con tricks - they're not even necessarily against our direct interests, although sometimes they can be - but they are hacks for the human mind, ways of manipulating us into particular decisions we otherwise might not make. They are also, in a way, deliberate underminings of the core principle of the free market, which derives its legitimacy from the idea that informed self-interest on aggregate sets appropriate prices for items. The key word is 'informed'; the point of behavioural economics - or rather, of its somewhat buccaneering corporate applications - is to skew our perception of the purchase to the advantage of the company. The overall consequence of that is to tilt the construction of our society away from what it should be if we were making the rational decisions classical economics imagines we would, and towards something else. — Nick Harkaway

Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information? — Friedrich August Von Hayek

As anyone who's ever taken an Ethiopian bus knows, there is an unwritten rule that the windows must remain firmly closed. — Tahir Shah

The god of wine looked around at the assembled crowd. "Miss me?"
The satyrs fell over themselves nodding and bowing. "Oh, yes, very much, sire!"
"Well, I did not miss this place!" Dionysus snapped. "I bear bad news, my friends. Evil news. The minor gods are changing sides. Morpheus has gone over to the enemy. Hecate, Janus, and Nemesis, as well. Zeus knows how many more."
Thunder rumbled in the distance.
"Strike that," Dionysus said. "Even Zeus doesn't know. — Rick Riordan