The ICT Revolution in Consumer Product Markets
1999 (English)Report (Other academic)
New information and communication technology (ICT) makes consumers better iformed about available products, prodct quality and prices, which mitigates problems of asymmetric information. The entry of firms is fascilitated, competition and economic efficiency is boosted and the market powers of households increased. Firms are likely to respond by increased product and price differentiation. There will also be considerable changes in the division of tasks between firms and households. But important obstacles to these developments are technological vulnerabillity, quality problems in the information on the Internet, cognitive limitatoins of individuals and weaknesses in the product delivery infrastructure in connection with Internet trade.
Place, publisher, year, edition, pages
Stockholm: IIES , 1999. , 30 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 670
information technology, consumer goods markets, household production, competition, pricing, asymmetric information
IdentifiersURN: urn:nbn:se:su:diva-41095OAI: oai:DiVA.org:su-41095DiVA: diva2:328299