Tuesday, April 23, 2019
Avi Goldfarb (Toronto) and Catherine Tucker (MIT) have created a great overview paper on Digital Economics. Worth downloading!
ABSTRACT: Digital technology is the representation of information in bits. This technology has reduced the cost of storage, computation, and transmission of data. Research on digital economics examines whether and how digital technology changes economic activity. In this review, we emphasize the reduction in five distinct economic costs associated with digital economic activity: search costs, replication costs, transportation costs, tracking costs, and verification costs.