“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.”

— Oliver E. Williamson

Oliver E. Williamson (1975) Markets and Hierarchies p. 31.

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Oliver E. Williamson 3

American economist 1932

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