Information as Economic Good : Its Origins , Characteristics , Pricing , and Associated Legal and Ethical Issues

Information plays an important role in most economies, and in some economies constitutes the dominant sector where information is created, traded, sold, and brokered as a commodity or economic good. It is therefore important for all stakeholders to understand the unique nature of information as an economic good and the implications thereof on the creation, trading, selling, and brokering thereof, as well as the potential legal and ethical issues. The purpose of this chapter is to provide the reader with an overview of the origins of the information economy, information as an economic good, and the characteristics that distinguish it from other economic goods; the impact of these characteristics on the pricing and packaging of information goods as well as some of the legal and ethical issues that pertain to information systems are highlighted. The chapter concludes with possible future trends and research directions.