Information Paradox in Economics

This video explains the information paradox in economics, which is basically that you cannot know the value of information until after you have paid the cost (effort cost, money cost, etc) to attain that information.

[@JohnParkJP]

I've been enjoying your videos. I really appreciate it. thank you!

[@bishalshrestha6087]

Exactly what we have been discussing this morning! Thanks. We have been discussing it in the context of new recruitment. You would not know if it is a right placement until we see that recruit performing on the job and if it at all is the best fit for the given post.

[@mwangifootballnerd]

Very economical information, nothing short

[@Denis-db4yp]

Wow what a good channel are you sure this is economics

[@talipk1743]

Great video. English is not my first language, could someone write the name of quoted thinker?

[@MarkGoddard-yb7yy]

George Shackle. Nassim Taleb of The Black Swan fame has cited him as an influence!

[@talipk1743]

@@MarkGoddard-yb7yy Thanks a lot

[@bishnuravi1602]

Ashley don't look at him look at me......😁