Information Asymmetry in Product-Service System Design - Example of the Pharmaceutical Industry

Abstract

Product-Service System (PSS) is a combination of products and services aimed at meeting the requirements of customers. This concept enables the generation of new values in Business-2-Business while supporting environmental protection. Design is an important area of PSS research and development. An important limitation that has not been well analyzed so far is the presence of information asymmetry during the design of the PSS. PSS design methods available in the literature do not provide guidelines and tools to combat information asymmetry. The aim of the article is to analyze the causes of information asymmetry in the design of PSS for the pharmaceutical sector and to develop a model preventing information asymmetry. The example presented in the article was developed during a industrial workshop conducted in a company operating in the pharmaceutical industry. When creating the models of information asymmetry and elimination of information asymmetry, the authors relied on experiences and misunderstandings in corporate communication. The conducted research provides guidelines for enterprises that will eliminate information asymmetry and improve relations between stakeholders.