The great moral question of the twenty-first century is this: if all knowing, all culture, all art, all useful information can be costlessly given to everyone at the same price that it is given to anyone; if everyone can have everything, anywhere, all the time, why is it ever moral to exclude anyone?
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.
Create and save customized flash cards. Sign up today and start improving your vocabulary!