Towards a Theory of Information Strategy: Exploiting Market Opaqueness in Search for Inforent

This dissertation develops the outlines of a theory of information strategy. It addresses the way in which firms decide to influence market transparency either negatively by allowing and maintaining the existence of information imperfections or positively by actively addressing and solving them in their search for above-normal economic returns (i.e. rent). In order to explicitly focus on the rent-earning potential of information imperfections, InfoRent is introduced as a new rent type. The theoretical framework that is developed draws on an integrate theoretical basis including Industrial Organization Economics, the Competence perspective, Evolutionary Economics and Information Economics. The framework is refined and empirically explored by means of an in-depth case study in the Dutch leisure travel industry that examines the information strategy of a tour operator, an airline and an online travel agent. The dissertation was awarded the Thesis of the Year 2004 award by the NOBEM (Netherlands Organization for Research in Business Economics and Management).