| 单词 | information |
| 释义 | information The data available to individuals, firms, or governments at the time when economic decisions have to be taken. There is in principle an indefinitely large amount of this; in practice even the largest and most sophisticated bodies, such as central banks and multinationals, know only a small fraction of it. Information concerns states of nature, technology, the decisions of other economic agents, and one's own preferences and plans. None of this is known with complete certainty; even one's own tastes may only be discovered through trial and error. asymmetric information is the normal situation, where each participant in a market knows some things the others do not, and does not know some things that other people do. Even the facts that people think they know will in any case usually not be 100 per cent correct. See also: asymmetric information, incomplete information, and price-sensitive information |
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