BU111 Lecture Notes - Lecture 7: Complementary Good, Risk Aversion, Information Overload
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BU111 Full Course Notes
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Document Summary
Information technologies affect information access, inter-firm cooperation, cycle times: not limited to computers and information (ex. Business implication: affects what we produce/what it can do, affects how we produce and how we sell. What is technology: advancements in equipment and its uses. We can do things at with a better outcome than our parents researching for projects) Includes human knowledge, work methods, equipment, business processing systems. Includes information technology the various devices for creating, storing, exchanging, and using information. Consumers use it daily, i. e. atm, shopping. Companies use it to gather and share information and execute activities. Debit/visas are connected to you personally therefore companies have access to gather your information (interests, spending habits) Facebook makes millions of dollars by connecting companies to the right users. Comes from human ingenuity formal and informal research & development (r&d)! Basic r&d knowledge without focus (underlying knowledge factors) research into basic physics, or basic biology.
