it is known, it is difficult to exclude others from its use. Since information is likely to be both non-rivalrous and non-excludable, it is frequently considered an example of a public good. Third is that the information market does not exhibit high degrees of transparency. That is, to evaluate the information, the information must be known, so you have to invest in learning it to evaluate it. To evaluate a bit of software you have to learn to use it; to evaluate a movie you have to watch it. The importance of these properties is explained by De Long and Froomkin in The Next Economy. Network effects Carl Shapiro and Hal Varian described Network effect (also called network externalities) as products gaining additional value from each additional user of that good or service. Network effects are externalities in which they provide an immediate benefit when an additional user joins the network, increasing the network size. The total value of the network depends upon the total adopters but carries only a marginal benefit for new users. This leads to a direct network effect for each user's adoption of the good, with an increased incentive for adoption as other user's adopt and join the network. The indirect network effect occurs as a complementary goods benefit from the adoption of the initial product. The growth of data is constantly expanding and growing at an exponential rate, however, the application of this data is far lower than the creation of it. New data brings about a potential increase in misleading or inaccurate information which can crowd out the correct information. This increase in unverified information is due to the easy and free nature of creating online data, disrupting potential for users from finding sourced and verified data. Critical mass As new networks are developed, early adopters form the social dynamics of the greater population and develop product maturity known as Critical mass. Product maturity is when they become self-sustaining and is more likely to occur when there are positive cash flows, consistent revenue flows, customer retention and brand engagement. To form a following, low initial prices need to be offered, along with widespread marketing to help create the snowball effect. More information In 2001, the Nobel prize in economics was awarded to George Akerlof, Michael Spence, and Joseph E. Stiglitz "for their analyses of markets with asymmetric information". See also Adverse selection Contract theory