Overview
- Argues that our basic understanding of markets must evolve in the face of new technology
- Describes how "competition," in a network economy, deviates from its traditional definition
- Explores how big data collection impacts human interaction
Part of the book series: Palgrave Advances in the Economics of Innovation and Technology (PAEIT)
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About this book
This Palgrave Pivot explores how communication technology such as the Internet has changed the nature of trade, focusing especially on economy-wide reductions in company size (granularity) and the role of retailers (disintermediation). By increasing access to comparative data, influencing conceptions of time, and reducing the number of intermediaries between creator and consumer, technological connectivity is changing the very definition of competition. In the new network economy, disintermediation and granularity are turning cooperative information gathering and sharing into a vital market institution.
To exemplify the effects of communication technology, Bhatt focuses on two markets with particularly powerful effects on the economy: labor and education, and CIME (communication, information services, media, and entertainment). Mobile connectivity is radically changing the extent, capabilities, and operations of these markets, both in terms of the servicesthey provide and how they interact with consumers. Bhatt also explores how these benefits intersect with new concerns about privacy and security when the line between public and private information is becoming ever more fluid.
To exemplify the effects of communication technology, Bhatt focuses on two markets with particularly powerful effects on the economy: labor and education, and CIME (communication, information services, media, and entertainment). Mobile connectivity is radically changing the extent, capabilities, and operations of these markets, both in terms of the servicesthey provide and how they interact with consumers. Bhatt also explores how these benefits intersect with new concerns about privacy and security when the line between public and private information is becoming ever more fluid.
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Keywords
Table of contents (9 chapters)
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Front Matter
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Back Matter
Authors and Affiliations
About the author
Swati Bhatt is Lecturer in Economics at Princeton University, USA. Her research interests include the economics of digitization and industrial organization in the technology industry.
Bibliographic Information
Book Title: How Digital Communication Technology Shapes Markets
Book Subtitle: Redefining Competition, Building Cooperation
Authors: Swati Bhatt
Series Title: Palgrave Advances in the Economics of Innovation and Technology
DOI: https://doi.org/10.1007/978-3-319-47250-8
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2017
Hardcover ISBN: 978-3-319-47249-2Published: 15 December 2016
eBook ISBN: 978-3-319-47250-8Published: 07 December 2016
Series ISSN: 2662-3862
Series E-ISSN: 2662-3870
Edition Number: 1
Number of Pages: XV, 151
Number of Illustrations: 10 b/w illustrations
Topics: R & D/Technology Policy, Cultural Economics, Industrial Organization, Media and Communication, Communication Studies