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Title: Market lessons from the internet

Essay Details

Subject: Business
Author: Charles M
Date: March 5, 2015
Level: University
Grade: A
Length: 32 / 9365
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

Frictionless commerce would be the norm, but plenty of friction still exists. The Internet was also claimed to require a whole new economics with all new laws. While this, too, was very far from the truth?existing theories have mostly done quite well?the Internet has had a substantial effect on economic thought...

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In this paper, we discuss some ways in which the Internet has affected how economists think about markets. That the Internet has affected economic thought is perhaps surprising. Some economic events, like the Industrial Revolution and the inflation of the mid-1970s and early 1980s, have had a major impact on the way economics is done...

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