ABSTRACT
For decades, classical economic principles have been a critical determinant for making ongoing investments and decisions about expected return on investment (ROI) of products and services. This chapter explores only those which have the greatest relevance in the context of information assets, and that require some reformulation to guide information producers and consumers such as chief data officers (CDOs), chief information officers (CIOs), and enterprise-, application-, and data architects. They include: how the principle of supply and demand operates differently with information than with other assets, how to understand and apply the forces of information pricing and elasticity, and how understanding the marginal utility of information for both human and technology-based consumers of information should drive business and architecture decisions. They also include: how the information production possibility frontier affects information-related behavior and investments, and how to use Gartner's information yield curve to conceptually integrate the concepts of information monetization, management, and measurement for improved information-related and business strategies.
