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" "To summarize, the production of information and its use in transactions both incur costs and are thus subject to economizing. In the 1970s, there occurred a revival of interest among economists in the economics of transaction, and Oliver Williamson in particular, building on the earlier work of Ronald Coase and John Commons, has explored the different institutional arrangements that govern transactional choices.
Max Henri Boisot (11 November 1943 – 7 September 2011) was a British architect and management consultant who was professor of Strategic Management at the ESADE business school in Barcelona. Boisot was known for his ideas about the information economy, the Information Space, social capital and social learning theory.
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The production of information and its use in transactions both incur costs and are thus subject to economizing. In the 1970s, there occurred a revival of interest among economists in the economics of transaction, and Oliver Williamson in particular, building on the earlier work of Ronald Coase and John Commons, has explored the different institutional arrangements that govern transactional choices.