Title :
From Private Information to Common Knowledge: A Discussion on the Informational Function of Institution
Author_Institution :
Dept. of Finance, Xiamen Univ., Xiamen, China
Abstract :
This paper gave an informational consideration on the foundation of institution. Through codification any information was turned into knowledge, which could be learned and thus decoded. Institution could be seen as a codification system, which codified numerous information into limited classifications. After an institution was turned into common knowledge, the informational asymmetry among actors could be greatly reduced.
Keywords :
information management; knowledge management; codification system; common knowledge; informational asymmetry; informational function; institution; private information; Contracts; Decoding; Economics; Games; Materials; Noise; Refrigerators; information; institution; knowledge;
Conference_Titel :
E-Business and E-Government (ICEE), 2010 International Conference on
Conference_Location :
Guangzhou
Print_ISBN :
978-0-7695-3997-3
DOI :
10.1109/ICEE.2010.458
