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How Digital Communication Technology Shapes Markets

Part of the Palgrave Advances in the Economics of Innovation and Technology Book Series

DOI: 10.1007/978-3-319-47250-8

ISBN: 978-3-319-47249-2

Publisher: Springer International Publishing - Springer Journals

Nov 5, 2016

1 - 9 of 9 Chapters

LitStream

Chapter 1The Technology: Has the Digital Communication Technology Changed the Way Markets Function? Cooperation or Competition?

Bhatt, Swati

Pages: 1 –16

[As social beings, humans have traded goods and services for generations. The mechanics of exchange have adapted over time to the changing environment but the underlying incentives remain the same. Differences in preferences and resources are bridged by connecting with individuals in other parts...
LitStream

Chapter 2The Three Drivers: Connectivity, Data and Attention

Bhatt, Swati

Pages: 17 –27

[DCT has unleashed three powerful drivers: connectivity itself; the collection and parsing of voluminous data and a newly recognized resource bottleneck; and attention. These drivers present opportunities as well as challenges, which enable the network economy to innovate and develop....
LitStream

Chapter 3The Three Trends: Granularity, Behemoths and Cooperation

Bhatt, Swati

Pages: 29 –55

[The first trend, OR, has redefined markets and unbundled products, transforming economic units into granular structures which operate with fewer employees and intermediaries. Connections and data allow buyers and sellers to confront each other directly and transactional integrity is maintained...
LitStream

Chapter 4The Independent Contractor and Entrepreneurship in Labor Markets

Bhatt, Swati

Pages: 57 –69

[Empowerment of workers and degree of control are central themes in the workplace. The shift of workers from employee status to independent contractors is accompanied by more control. Employees typically have job security and multiple benefits, but limited freedom over terms of the work....
LitStream

Chapter 5The On-Demand Economy and How We Live: Communication, Information, Media and Entertainment

Bhatt, Swati

Pages: 71 –104

[DCT has provided choices over content and the vehicle for consuming media content. Unbundling enables the authors of content, the sellers, to be separate from the distributors, or buyers, of their creations. This induces both sides to innovate in the creation, curation and dissemination process,...
LitStream

Chapter 6The Sharing Economy: Information Cascades, Network Effects and Power Laws

Bhatt, Swati

Pages: 105 –118

[Connectivity generates familiarity and induces collaboration, and also the phenomenon of copying, known also as FOMO (fear of missing out). Imitating others’ behavior derives from the social influence of networks which is different from homophily or joining groups with similar characteristics....
LitStream

Chapter 7The Private World of Sharing and Cooperation

Bhatt, Swati

Pages: 119 –132

[Connectivity builds bridges between individuals’ private space and threatens notions of identity and privacy. While the notion of privacy as anonymity is relatively new from a historical point of view, the constitutional guarantees pertain to lines of control over what we share, when we share...
LitStream

Chapter 8The Internet and Regulation

Bhatt, Swati

Pages: 133 –142

[The Internet was created in a culture of collaboration and distributed decision-making. With organization behemoths co-existing with granularity, has the Internet lost this collaborative culture? Ownership of data, of domain names and control over the flow of content in the entertainment...
LitStream

Chapter 9The Conclusion

Bhatt, Swati

Pages: 143 –148

[We are in a moment of increasing interdependency because of our connections. Competition in terms of a zero-sum game is simply not an option. There is an acknowledgement, by recognizing our intertwined lives, that cooperating is the individually rational way forward. Since common knowledge is...

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