Information Economics

library, information, economics

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The Economics of Information

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Economics of Information

Information and Economics

In a series of recent writings we have sought to re-open a debate over the economics of socialism. We have argued that the collapse of the Soviet system does not necessitate the conclusion that all forms of socialist economy are doomed to inefficiency. Updating and extending a line of reasoning found in Lange (1967) and Johansen (1977),1 we have claimed that modern information technology permit...

Economics of Information Technology

This is an overview of economic phenomena that are critical for high-technology industries. Topics covered include personalization of products and prices, versioning, bundling, switching costs, lock-in, economies of scale, network effects, standards, and systems effects. Most of these phenomena are present in conventional industries, but they are particular important for technology-intensive in...