scholarly journals Market digital platforms and economic inequality

2021 ◽  
Vol 291 ◽  
pp. 07008
Author(s):  
M.V. Sukharev
Keyword(s):  
Transaction Costs ◽  
Market Economy ◽  
A Priori ◽  
Economic Inequality ◽  
Global Markets ◽  
Systematic Analysis ◽  
Digital Platforms ◽  
Widespread Distribution ◽  
Main Effect

The article studies the issues associated with the emergence and widespread distribution of such new systems for the market economy as global digital trading platforms, as well as their impact on economic inequality. The paper proposes the systematic analysis of the organization of these platforms, on the basis of which it is concluded that their main effect is associated with a significant reduction in transaction costs (by one or two orders of magnitude) when searching for goods, making transactions and paying for them. Statistics show an increase in economic inequality, though, a priori we could expect a reduction in inequality as a result of small and medium-sized businesses gaining access to global markets.

Approaches to estimating the efficiency and performance of the trade enterprise activity: modern view

2019 ◽  
pp. 71-77
Author(s):  
Lyudmyla Shymanovska-Dianych ◽  
Nataliya Pedchenko
Keyword(s):  
Market Economy ◽  
Continuous Improvement ◽  
Systematic Analysis ◽  
Modern View ◽  
And Performance ◽  
Enterprise Activity

In the article, the existing variety of terms of "efficiency" and "performance" is structured and the features of each concept and the differences between them are defined. The article proves that it is necessary to divide the categories "performance" and "efficiency" for trade enterprises. Each of them has an independent value, equally important for the evaluation of their activities, and can not replace another concept. The authors prove that in a market economy, when the results of the work of some market actors depend on the clarity and coherence of the work of other actors, the problem of efficiency becomes decisive. The article argues that the key to the success of any enterprise, including commercial ones, lies in the continuous improvement of the efficiency and performance of their activities, systematic analysis, development and implementation of measures aimed at increasing its efficiency and performance. The approaches to assessing the efficiency and performance of the enterprise, which most fully cover the key criteria for assessing the efficiency and performance of different enterprises, are analyzed. Despite the obvious differences below the described approaches, they do not exclude each other, but only characterize the operation of the enterprise from different sides. These approaches are based on certain indicators by means of which the analysis, comparison and evaluation of the enterprise is carried out. The authors prove that this system of indicators is not ideal and does not take into account all characteristics of trade enterprises, which influence the efficiency and performance of their activities. Therefore, they suggest expanding this list, adding such indicators as an indicator of the overall assessment of the economic profitability of a trade company, the indicator of the effectiveness of the use of retail space and indirect indicators of profitability.

scholarly journals DIGITAL TRANSFORMATION OF THE RUSSIAN ECONOMY AND ALIGNMENT OF ECONOMIC INTERESTS

2021 ◽  
Vol 230 (4) ◽  
pp. 410-416
Author(s):  
N.V. RASSKAZOVA ◽  
Keyword(s):  
Economic Growth ◽  
Transaction Costs ◽  
Digital Technologies ◽  
Digital Economy ◽  
Digital Transformation ◽  
Production Costs ◽  
Economic Interests ◽  
Digital Platforms ◽  
Russian Economy ◽  
Reproduction Process

The problems of the digital economy development are central, since the introduction of digital technologies in the reproduction process provides for increased efficiency and reduced production costs. This fact encourages the development of digital platforms and mechanisms that allow to accelerate the process of interaction between different actors and reduce the transaction costs of coordinating economic interests at the micro and macro levels, which will eventually lead to economic growth. In this regard, the problem of digitalization of the Russian economy and its branches is relevant.

Inequality and Labour Pains

2020 ◽  
pp. 203-219
Author(s):  
Kaushik Basu
Keyword(s):  
Artificial Intelligence ◽  
New Technology ◽  
Economic Inequality ◽  
The State ◽  
Basic Information ◽  
Digital Platforms ◽  
Global Challenge ◽  
Policy Interventions ◽  
The World ◽  
Labour Pains

A topic that has come increasingly into limelight is rising economic inequality in the world and the suffering of the labouring classes associated with the rise of new technology—in particular, artificial intelligence and digital platforms. Not surprisingly, these were topics with which the author had some ample engagement during his years as policymaker and this chapter speaks to this new global challenge. The chapter provides some basic information about the state of inequality and the falling share of labour income, and also suggests policy interventions to mitigate some of these problems.

A Survey on Ontology Creation Methodologies

2011 ◽  
pp. 98-122 ◽  
Author(s):  
Matteo Cristani ◽  
Roberta Cuel
Keyword(s):  
Artificial Intelligence ◽  
Knowledge Management ◽  
Information Systems ◽  
Current Literature ◽  
A Priori ◽  
Top Down ◽  
Specific Context ◽  
Systematic Analysis ◽  
General Terms ◽  
The Right

In the current literature of knowledge management and artificial intelligence, several different approaches to the problem have been carried out of developing domain ontologies from scratch. All these approaches deal fundamentally with three problems: (1) providing a collection of general terms describing classes and relations to be employed in the description of the domain itself; (2) organizing the terms into a taxonomy of the classes by the ISA relation; and (3) expressing in an explicit way the constraints that make the ISA pairs meaningful. Though a number of such approaches can be found, no systematic analysis of them exists which can be used to understand the inspiring motivation, the applicability context, and the structure of the approaches. In this paper, we provide a framework for analyzing the existing methodologies that compares them to a set of general criteria. In particular, we obtain a classification based upon the direction of ontology construction; bottom-up are those methodologies that start with some descriptions of the domain and obtain a classification, while top-down ones start with an abstract view of the domain itself, which is given a priori. The resulting classification is useful not only for theoretical purposes but also in the practice of deployment of ontologies in Information Systems, since it provides a framework for choosing the right methodology to be applied in the specific context, depending also on the needs of the application itself.

scholarly journals Big data: Hell or heaven? Digital platforms and market power in the data-driven economy

2018 ◽  
Vol 23 (3) ◽  
pp. 312-328 ◽  
Author(s):  
Massimiliano Nuccio ◽  
Marco Guerzoni
Keyword(s):  
Big Data ◽  
Economies Of Scale ◽  
A Priori ◽  
Information Economics ◽  
Market Concentration ◽  
Fair Use ◽  
Policy Debate ◽  
Digital Platforms ◽  
Continuous Innovation ◽  
The One

Digital transformation has triggered a process of concentration in several markets for information goods with digital platforms rising to dominate key industries by leveraging on network externalities and economies of scale in the use of consumer data. The policy debate, therefore, focuses on the market control allegedly held by incumbents who build their competitive advantage on big data. In this paper, we evaluate the risk of abuse of a dominant position by analysing three major aspects highlighted in economic theory: entry barriers, price discrimination, and potential for technological improvement. Drawing on industrial and information economics, we argue that the very nature of big data, on the one hand, prompts market concentration and, on the other, limits the possibility of abuse. This claim is not an a-priori apologia of large incumbents in digital markets, but rather an attempt to argue that market concentration is not necessarily detrimental when it stimulates continuous innovation. Nonetheless, the concentration of power in a few global players should raise other concerns linked with the supranational nature of these firms, which can easily cherry-pick locations to exploit tax competition among countries or more favourable privacy legislation and the fair use of data.

La struttura istituzionale della produzione *

1991 ◽  
Vol 9 (3) ◽  
pp. 163-173
Author(s):  
Ronald H. Coase
Keyword(s):  
Economic Theory ◽  
Transaction Costs ◽  
Market Economy ◽  
Government Regulation ◽  
Social Cost ◽  
Economic Planning ◽  
Invisible Hand ◽  
Eastern European ◽  
Eastern European Countries ◽  
Wealth Of Nations

Abstract During the two centuries following the publication of Adam Smith’s Wealth of Nations the economists’ main objective has been to improve his analysis and in particular his basic statement that government regulation and economic planning are not necessary for the functioning of an efficient economy, since the price system (the «invisible hand») can successfully coordinate the economy.However, the excessive attention to prices deviated research from other aspects of the economic system. Coase’s effort, through his articles on «The nature of the firm» (1937) and «The problem of social cost» (1960), was to introduce in the traditional economic theory some institutional elements. The contribution of the first article was essentially the introduction into economic analysis of transaction costs. In the second article it was shown that contracting in absence of transaction costs maximizes the wealth, quite apart from the assignment of property rights.The introduction of institutional elements can be very helpful for reforms in Eastern European countries, because market economy can only work through appropriate institutions.

scholarly journals A guaranteed deterministic approach to superhedging: mixed strategies and game equilibrium

2020 ◽  
Vol 12 (1) ◽  
pp. 60-90
Author(s):  
Сергей Николевич Смирнов ◽  
Sergey Smirnov
Keyword(s):  
Transaction Costs ◽  
A Priori ◽  
Contingent Claim ◽  
Mixed Strategies ◽  
Deterministic Approach ◽  
Game Equilibrium ◽  
Game Theoretic ◽  
Price History ◽  
Pure Strategies ◽  
Trading Constraints

For a discrete-time superreplication problem, a guaranteed deterministic formulation is considered: the problem is to ensure a cheapest coverage of the contingent claim on an option under all scenarios which are set using a priori defined compacts, depending on the price history: price increments at each moment of time must lie in the corresponding compacts. The market is considered with trading constraints and without transaction costs. The statement of the problem is game-theoretic in nature and leads directly to the Bellman - Isaacs equations. In this article, we introduce a mixed extension of the ``market'' pure strategies. Several results concerning game equilibrium are obtained.

scholarly journals Either - Or? Is There an Alternative to Capitalism?

2020 ◽  
Author(s):  
Sergey Mitsek ◽  
◽  
Elena Mitsek ◽  
Keyword(s):  
Market Economy ◽  
Social Inequalities ◽  
A Priori ◽  
Economic Science ◽  
Private Ownership ◽  
Economic Competition ◽  
Pros And Cons ◽  
The Difference ◽  
Methodological Principles ◽  
Main Shortcoming

Despite the triumph of capitalism in economic competition with communism, recent years have shown the increasing contradictions of the former, the most serious of which is the growth of social inequality. All of this requires the comprehension of possible alternatives to capitalism. The authors consider these possible alternatives in the framework of the market economy, which has proven itself as the best system in terms of the optimal use of rare resources. The difference between the market economy as such and its private manifestation, capitalism, lies in the form of ownership. Moreover, capitalism is based on private ownership, however, versions of the market economy with other forms of ownership are possible. Making use of basic methodological principles of economic science, the authors analyse the pros and cons of private and other forms of ownership in the framework of the market economy. The former’s strengths lie in the initiative to create new companies and the drive to increase efficiency, while its weaknesses lie in the growth and entrenchment of social inequalities. The strength of the market economy with other forms of ownership is a lesser degree of inequality, however, its weaknesses are insufficient incentives for innovation and growth. In today’s world, only capitalism fully realises the principles of the market economy. Economic schemes based on other forms of ownership demonstrate substantial deviations from these principles, and therefore exist only in theories so far. To make an alternative to capitalism feasible, forms of the market economy with other systems of ownership must override their a-priori shortcomings, the main shortcoming of which consists of insufficient incentives for risk acceptance and efficiency gains.

scholarly journals At the Origins of Neo-institutionalism: Ronald Coase

2021 ◽  
Vol 8 (4) ◽  
pp. 6-18
Author(s):  
R. Nureev
Keyword(s):  
Economic Theory ◽  
Environmental Pollution ◽  
Transaction Costs ◽  
Public Good ◽  
Market Economy ◽  
Legal System ◽  
Nobel Laureate ◽  
History Of ◽  
The Relationship ◽  
Comparative Description

The article contains the analysis of the views of the Nobel laureate in economics Ronald Coase (1910–2013) as the founder of neo-institutionalism. it provides a comparative description of the “old” and “new” institutionalism and shows the relationship and difference between neoclassicism and neo‑institutionalism. I analysed in detail the most famous articles of Coase and, first of all, “The Nature of the Firm” and “The Problem of Social Costs”. in these works, Coase showed that in the absence of transaction costs there is no economic novelty for the existence of a firm, in the second — that in the lack of transaction costs the legal system does not matter. With an exact specification of property rights, the market economy itself is able to cope with environmental pollution without resorting to government intervention, adjusting taxes and subsidies. The article shows the history of lighthouses in economic theory. Usually, the lighthouse is listed as a purely public good. Ronald Coase shows that even a public good — like lighthouses —was paid for by shipowners. The last part is devoted to essays on economics and economists.

Metal arrays in structural units based on anion-centered metal tetrahedra

1999 ◽  
Vol 55 (5) ◽  
pp. 664-676 ◽  
Author(s):  
S. V. Krivovichev ◽  
S. K. Filatov
Keyword(s):  
Rare Earth ◽  
Rare Earth Metals ◽  
Closed Shell ◽  
Structural Geometry ◽  
Structural Units ◽  
Systematic Analysis ◽  
Metal Bonding ◽  
Metal Atoms ◽  
Metal Metal ◽  
Main Effect

Structural units based on anion-centered metal tetrahedra (XA 4; X = O, N; A = metal) are described as eutactic metal fragments with anions in tetrahedral interstices. In this respect these units may be subdivided into fluorite derivatives and units based on stellae quadrangulae (tetrahedral stars). To describe the geometry of the metal arrays a set of tetrahedrally packed metal radii, r tp, is derived for A = Cu, Pb, Bi, and some rare-earth metals from the systematic analysis of the A...A distances within (XA 4) tetrahedra. Analysis of these radii and of the structural geometry of the units shows that the insertion of anions into tetrahedral interstices of the metal fragment causes its expansion and distortions by nonbonded anion–anion repulsions. The main effect is owing to the linkage of (XA 4) tetrahedra via edges, which leads to compression of the shared A...A edges and stretching of the unshared edges. The geometry of this effect is described by some empirical expressions. It is suggested that the eutactic arrangement of metal atoms in structural units based on anion-centered metal tetrahedra is caused by the closed-shell metal–metal bonding interactions

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