The Subjective Value of Information: Using a Business Game to Assess the Value of Information

Information workers collect and disseminate information by sharing and by trading (buying and selling). The extent of information exchange by either sharing or trading is influenced by the subjective value assigned to information by users. While information is important for every aspect of work, its value has not been determined experimentally. This research describes the development of a unique research tool, a business game, focused on the subjective value of information. The game was used to examine experimentally the subjective value of information in both trading and sharing situations. Subjective value was represented by the willingness to pay or accept payment or share information in business situations. The main finding is that information ownership bears an impact on the subjective value of information as manifested by the tendency to trade in or share information. This study offers experimental demonstration of the subjective value of information previously known mainly as a theoretical concept. Assessment of subjective value and ownership of information should be considered in the design of systems.