Corpus ID: 131691094

Trading facts: Arrow's fundamental paradox and the origins of global news networks

@inproceedings{Bakker2011TradingFA,
  title={Trading facts: Arrow's fundamental paradox and the origins of global news networks},
  author={G. Bakker},
  year={2011}
}
Since the Renaissance newsbrokers have developed solutions to overcome the main problem of selling news. The ‘fundamental paradox in the determination of demand for information’, originally identified by Kenneth J. Arrow, implies that buyers cannot assess how much they want to pay for information without knowing its content, but once they know its content, they do not need to pay anymore. The first part investigates the evolution of newsbrokers’ business models since the Renaissance, noting the… Expand