Information Exchange Transactions
The exchange of information is usually not treated like a transaction.
There is a lot information that is exchanged informally. This information can contain a lot of value. Sometimes it’s mutually valuable, other times the value is imbalanced.
Even when information is traded as a financial transaction, the value doesn’t always balance out.
In reality, there is a market for information. This market like all markets is not perfectly efficient.
And it is all made more difficult to understand because of human biases.
We all have our information defects…
Important information is not always communicated effectively and nor is it always understood fully.
Is there really enough time to check both sides of the communication to make sure that both the sender and receiver understand the intent of the communication.
There is also the issue of intentional misinformation which complicates communication even further.
A two sided transaction ledger can document the communication on both sides was received and understood. But it is not helpful in the case of intentional and unintentional miscommunication.
Given all the constraints, perhaps the most realistic expectation is that good faith efforts are made to communicate and receive information effectively.