Full Information Product Pricing: An Information Strategy for Harnessing Consumer Choice to Create a More Sustainable World

Abstract

Research and practice in the information systems (IS) field have been evolving over time, nourishing and promoting the development of applications that transform the relationships of individuals, corporations, and governments. Building on this evolution, we push forward a vision of the potential influence of the IS field into one of the most important problems of our times, an increasingly unsustainable world, which is traditionally considered the product of imperfect markets or market externalities. We describe our work in Full Information Product Pricing (FIPP) and our vision of a FIPP global socio-technical system, I-Choose, as a way to connect consumer choice and values with environmental, social, and economic effects of production and distribution practices. FIPP and I-Choose represent a vision about how information systems research can contribute to interdisciplinary research in supply chains, governance, and market economies to provide consumers with information packages that help them better understand how, where, and by whom the products they buy are produced. We believe that such a system will have important implications for international trade and agreements, for public policy, and for making a more sustainable world.