Explorations in Information Space: Knowledge, Actor, and Firms 1st edition by Boisot, Max H, MacMillan, Ian C, Han, Kyeong Seok (2008) Hardcover

by Max H. Boisot

Excellent Book

Hardcover

First published March 15, 2007

Reviews

[Caleb · Rating 4 out of 5]

Boisot offers a theory of information that centers upon notions of codification and abstraction. The basic idea, in short, is that information generally diffuses more freely and is more useful the more it is formalized. Think of a new production technique that comes to be embodied in standard operating procedures that can be shared online. This account of formalization is based upon a hermeneutic or perspectival view of information development. Data, stemming from physical processes, is interpreted according to specific agents' unique perspectives, history, and interests. Thus, epistemic heterogeneity is the normal condition.

This has important implications for the theory of the firm since economists tend to assume informational homogeneity. Similarly, the fact that formalization often makes information more useful does not negate the fact that highly contextual or tacit information cannot be formalized. Thus, tradeoffs involving information are unavoidable. Likewise, diffusibility stemming from formalization also made it more difficult for knowledge creators to benefit from their information, raising questions about the role of intellectual property rights in fostering economic growth.

Overall, the book offers an interesting theory of information, which is then linked to issues involving organizational strategy and public policy.