Revolutionary effects of new information technologies

• 成果类型: Article; Proceedings Paper
• 署名作者: van den Berg, GJ
• 署名单位: Tinbergen Institute; Vrije Universiteit Amsterdam
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/j.1468-0297.2006.01062.x
• 发表日期: 2006
• 页码: F10-F28
• 关键词: price dispersion; internet; search; MODEL; MARKETS

摘要

In markets with imperfect information and heterogeneity, the information technology affects the rate at which agents meet, which affects the distribution of production technologies across firms. Multiple equilibria may arise because the reservation utility and the lowest production technology in use affect each other. The adoption of novel information technologies may then entail a revolution in the sense of a move from an inefficient to an efficient equilibrium. Inefficient production technologies are swiftly removed even in sectors where the new information technology has only recently been introduced. The results apply to consumer products, labour, intermediates and institutions.