University:
University of South Wales
Course:
N507 | Marketing
Academic year:

2023
Views:

468

Pages:

1
Author:

Maria C.

Lecture Notes: TECHNOLOGICAL REVOLUTION RESHAPING ECONOMICS I. Introduction • Examining the societal impact of recent technological changes. • Exploring the influence of e-commerce, computers, Big Data, and pricing algorithms on shopping and communication. II. The Promise of the Algorithm-Driven Economy • Investigating the enticing features of online markets. • Discussing the potential to enhance efficiency, competition, and prosperity. • Analyzing how technology has liberated consumers from local retail limitations. III. Key Technological Developments • Focusing on self-learning algorithms and Big Data. • Illustrating how these innovations impact online commerce, from Amazon's book sales to Orbitz's pricing algorithms. • Emphasizing the competitive advantages gained by online retailers. IV. Regulatory Approaches to Digital Markets • Summarizing common regulatory approaches. • Exploring arguments within the tech industry and antitrust circles. • Advocating for a lighter regulatory touch due to the potential benefits of technology and innovation. V. The Darker Sides of the Data-Driven Economy • Introducing potential challenges and pitfalls. • Questioning the assumption that traditional anticompetitive scenarios are less likely in the digital world. • Delving into the complexities behind virtual competition. Conclusion • Setting the stage for a comprehensive exploration of the digital economy. • Balancing promises of prosperity and innovation with potential challenges and threats. • Examining evolving dynamics related to competition, regulation, and consumer welfare in the ever-changing technological landscape.