The growing use of the internet by businesses and consumers is
rapidly changing the structure, conduct, and performance of
different sectors of the global economy. This ten chapter volume on
organizing the "new economy" documents some of these changes, and
examines the ramifications for business strategy and public policy.
Chapters in this volume explain how the Internet has altered the
conduct of firms competing in "new economy" markets (such as the
online market for air travel information), changed the competitive
and technological structure of a host of industries, and has
impacted the valuation and performance of businesses (including
online-retailers). In addition, contributors to this volume
document that online price dispersion is ubiquitous worldwide,
quantify the value of reputation in online auction markets, and
explain optimal business behavior in "new economy" settings where
network effects, product compatibility, and market dynamics are
important.
The breadth of topics in this volume, coupled with the expertise
and diverse backgrounds of its contributors, make Organizing the
New Industrial Economy a unique and valuable addition to the
growing literature in the area. This volume is part of Elsevier's
Advances in Applied Microeconomics series - an annual research
volume that disseminates frontier research well in advance of
journals and other outlets. For additional information about
Internet-related projects, or for more information about this
series and planned future volumes, please visit the editor's site
at http: //www.nash-equilibrium.comhttp:
//www.nash-equilibrium.com
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