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THE ANALYSIS OF UTILITY OF INFORMATION AS OF ECONOMIC GOODS

Journal: Bulletin of Prydniprovs'ka State Academy of Civil Engineering and Architecture (Vol.2015, No. 2)

Publication Date:

Authors : ; ; ;

Page : 44-51

Keywords : information amenities; total utility; marginal utility; cognition;

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Abstract

Relations that form regarding production, processing, storage, transfer, exchange and consumption of information obtain managing values in modern economics of post-industrial type. At that information can be analyzed as consumer amenities that bring definite utility as a result of consumptive use, or as information resource that is able to take part in the process of production. In the given work the approach to information is used from the point of view of its consumer appeals, that is as economic good. The analysis of scientific investigations concerning usefulness of information amenities shows absence of a single approach to the given question. While creating a generalized model, preconditions represented in the models of leading scientists were taken into consideration. Purpose. To develop a concept of utility of information amenities on the basis of synthesis of existing theories of utility of information. To take out generalized criterion characterizing restrictions in consumption of information. To create preconditions for cost estimate of information amenities. Modern tendencies’ accounting of technological progress should be reflected in the new microeconomic indicators, as well as in the indicators of information goods using effectiveness. Conclusion. Obtained functions of total and marginal utility of information amenities confirm necessity of special approach to their analysis. The restricted ability of information perception by individual consumer is expressed through coefficient of cognition developed by the author. It’s decreasing dynamics preconditions achievement of maximum value of total utility and possibility of negative value of marginal utility. However, increase of consumption of information amenities creates increasing return conditioned upon knowledge gathering. It becomes apparent in increase of average coefficient of cognition according to increase of knowledge structure. At that marginal utility of information will not vanish, that is total utility does not achieve maximum. Dynamics of marginal utility of information amenities complies with general law of diminishing marginal utility starting only from a definite moment. Marginal analysis of information amenities promotes rationale of its cost estimate that is one of the most urgent questions in modern economics.

Last modified: 2015-10-27 18:12:19