Which information is treated as similar to other commodities

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Reference no: EM133411096

Case Study: Information can be a commodity but does not always "behave" in the same way as other commodities. For one thing, if we give (or sell) information to you, we still retain it ourselves rather than giving it up, as in the case of a normal commodity. Another difference is the way that giving away valuable information may actually increase its value. Two examples are: (1) Broadcast television programs provide their programs for "free" (actually, in exchange for audience attention to advertising); the more people who take advantage of this free programming, the more valuable it becomes as both a topic of conversation among audience members and as a source of revenue for broadcasters and advertisers. (2) Although musicians sometimes give away their music on the internet, in some cases their revenues have increased as a larger audience is exposed to their music and is more willing to buy the albums from which the songs came - since they have had an opportunity to preview what they will be getting when they buy the album. And then there is always the income from touring.

Question: Can you think of other examples in which information differs from other potential commodities - and changes human behavior as a result? How about ways in which information is treated as similar to other commodities - for example, carrots, cars, clothing, or condos?

Reference no: EM133411096

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