Consider the nature of the trade-off between richness and reach of information. How is the trade-off defined?

Consider the nature of the trade-off between richness and reach of information. How is the trade-off defined?

Consider the nature of the trade-off between richness and reach of
information. How is the trade-off defined? Give a real-world example to
qualify for the maximum possible credit.
2. Consider how “Every business is an information business.” Why is this
statement and an economic statement? How is this statement relevant
to the concept of Information Asymmetry and Moral Hazard. Give a real-
world example in this context.
3. Research and present one contribution to body of Information
Economics knowledge from one of the Nobel Prize winners in Economics
(Stigler, Mirrlees, Vickery, Akerloff, Spence, Stiglitz, Hurwicz, Maskin or
Myerson).As an example, how is this topic relevant to the warranty
coverage for top brand used car sales market such as BMW, Lexus, Audi,
Mercedes-Benz, Infinity, etc?
4. Provide some reasons for the importance of establishing the
copyrights for ecommerce business. Why is it efficient to limit the
duration of patents and copyrights, whereas real property rights endure
almost forever? Give an example.
5. As an owner and manager of your e-commerce website, describe the
key factors that would serve the best web platform to keep an efficient
balance between demand and supply functionality of your website.
6. Identify the e-commerce giants in China who have formed an
oligopoly market structure in recent years to compete in the global e-
commerce. What are key success factors for their rapid expansion just
within a decade plus?

Answer preview Consider the nature of the trade-off between richness and reach of information. How is the trade-off defined?

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