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Hands on: Information Experiences as Sources of Value
Author(s) -
Rusho Yonit,
Raban Daphne R.
Publication year - 2020
Publication title -
journal of the association for information science and technology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.903
H-Index - 145
eISSN - 2330-1643
pISSN - 2330-1635
DOI - 10.1002/asi.24288
Subject(s) - value (mathematics) , perception , production (economics) , consumption (sociology) , value of information , set (abstract data type) , computer science , information needs , information behavior , willingness to pay , information seeking , payment , knowledge management , marketing , psychology , information retrieval , business , microeconomics , human–computer interaction , economics , world wide web , artificial intelligence , sociology , social science , neuroscience , machine learning , programming language
Value perception increases when people engage in producing physical objects. However, information differs from physical objects by being intangible and easy‐to‐copy. Information as an experience good is inherently challenging to evaluate a priori; therefore, comparing value before and after different types of experience is likely to inform theory about users' preferences regarding information. Prior research mostly refers to consuming information and rarely considers the experience of producing information as a factor affecting information value. The current research compares the effect of experiencing online information through production and consumption processes on value perception. In a set of 6 experiments with 178 participants, willingness‐to‐pay by consumers and willingness‐to‐accept payment by producers are measured before and after consumption and production of information, independently and as repeated measures. In the experiments, we define and implement a framework for an information production process. The results show that the value of information is dynamic. Value perception increased after experiencing information, especially when people engaged in producing information compared to consuming it. This study offers a window toward the practical design of new digital information products.