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Illuminating and bridging the vortex between tacit and explicit knowledge: Counterbalancing information asymmetry in high-value low-frequency transactions
Decision Support Systems ( IF 6.7 ) Pub Date : 2021-05-29 , DOI: 10.1016/j.dss.2021.113605
Mark Hoksbergen , Johnny Chan , Gabrielle Peko , David Sundaram

Asymmetric information could harm a stakeholder in a transaction when they are not aware of the disparity of the information among the various stakeholders. Understanding the relationship and interaction among stakeholders is imperative for making informed decisions. It becomes even more critical in the context of high-value low-frequency transaction (HVLFT). This paper delves into the different forms of knowledge (data, information, knowledge, wisdom, understanding, experience and learning) that are essential to support HVLFT. If a form of knowledge can be categorised as neither tacit nor explicit, it belongs to the proposed knowledge dimension X. This paper further explores the transformation of different dimensions of knowledge at the disruptive vortex between tacit, explicit, and X. The interactions between these three dimensions of knowledge are validated through a study of knowledge asymmetry among HVLFT stakeholders in the real estate industry of NZ. We conclude with the proposal of a blockchain-based architecture to counterbalance information asymmetry caused by X.



中文翻译:

照亮和弥合隐性知识和显性知识之间的漩涡:平衡高价值低频交易中的信息不对称

当利益相关者不了解不同利益相关者之间的信息差异时,不对称信息可能会损害交易中的利益相关者。了解利益相关者之间的关系和互动对于做出明智的决策至关重要。在高价值低频交易 (HVLFT) 的背景下,它变得更加重要。本文深入探讨了支持 HVLFT 所必需的不同形式的知识(数据、信息、知识、智慧、理解、经验和学习)。如果一种知识形式既不能归类为隐性知识,也不能归类为显性知识,则它属于所提出的知识维度 X。 本文进一步探讨了在隐性、显性和 X 之间的破坏性漩涡中不同知识维度的转换。通过对新西兰房地产行业 HVLFT 利益相关者之间的知识不对称研究,验证了这三个知识维度之间的相互作用。我们最后提出了一个基于区块链的架构来平衡由 X 引起的信息不对称。

更新日期:2021-05-29
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