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Showing posts with the label information search cost

Just my thoughts #0799

Micro-movement refers to small shifts. Kim Yong-woon, who authored the book “History’s Counterattack,” states that before a state changes, an ambiguous phase occurs during the process. This is called ‘micro-movement,’ and he argues that a rigid organization that suppresses this micro-movement will ultimately lead to frustration or catastrophe. He explains that permitting micro-movement equates to autonomy, and an open organization that allows this fosters ‘self-organization’ and the ‘emergence of creativity.’ He also mentions that human ability is defined as pattern recognition, which helps distinguish between ‘trivial’ and ‘essential’ elements. It is believed that when human activity reaches a critical point, key insights can be derived from seemingly trivial details. - Joseph’s “just my thoughts”

Just my thoughts #0358

To obtain the information we seek, we invest time and effort in searching. During this process, there is a cost known as “information search cost.” If the search costs exceed the value of the information we wish to obtain, it is deemed inefficient; people generally aim to avoid inefficiency. For instance, if a billionaire spends considerable effort searching for a car for less than 90,000 USD, then the billionaire will just buy because it is inefficient. Cost-effectiveness in the economic world judgment is a crucial factor to get dominion world we’re living in. - Joseph’s “just my thoughts”