Information impactedness is a derivative condition that arises mainly because of uncertainty and opportunism, though bounded rationality is involved as well. It exists when true underlying circumstances relevant to the transaction, or related set of transactions, are known to one or more parties but cannot be costlessly discerned by or displayed for others.
Oliver E. WilliamsonRelated topics
condition derivative information known opportunism rationality set transaction uncertainty underlying well circumstances others impactednessRelated quotes
Liberalism should be found not striving to spread bureaucracy but striving to set bounds to it. True liberalism seeks all legitimate freedom first in the confident belief that without such freedom the pursuit of all other blessings and benefits is vain. That belief is the foundation of all American progress, political as well as economic.
Herbert Hoover
In terms of a narrative nonfiction book, when you're describing scenes that you have multiple sources for, and that you have differing sources for, and you decide to choose a path that puts all that information together, well yeah, there's definitely going to be a little bit of the author in that. But there's nothing wrong with that.
Ben Mezrich
From a town known as Wheeling, West Virginia
Rode a boy with a six-gun in his hand
And his daring life of crime made him a legend in his time
East and west of the Rio Grande.
Well, he started with a bank in Colorado
In the pocket of his vest a Colt he hid.
And his age and his size took the teller by surprise,
And the word spread of Billy the Kid.
Billy Joel
Hereditary succession has no claim. For all men being originally equals, no one by birth could have the right to set up his own family in perpetual preference to all others for ever, and tho' himself might deserve some decent degree of honours of his contemporaries, yet his descendants might be far too unworthy to inherit them.
Thomas Paine
Marx set out to resolve the contradictions and to correct the errors in classical political economy. In this he thought he had succeeded very well. Judging by the sound and the fury of the controversy surrounding his interpretations, he either succeeded too well or deluded himself to the success of his enterprise.
David Harvey
