The Methodology of Decision Support for the Entrepreneurial Sector in the Information Asymmetry of the Cyber Economy

Olga E. Akimova, Elena M. Vitalyeva, Natalia V. Ketko, Alexey F. Rogachev and Natalia N. Skiter
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Olga E. Akimova: Volgograd State Technical University
Elena M. Vitalyeva: Volgograd State Technical University
Natalia V. Ketko: Volgograd State Technical University
Alexey F. Rogachev: Volgograd State Technical University
Natalia N. Skiter: Volgograd State Technical University

A chapter in The Cyber Economy, 2019, pp 233-251 from Springer

Abstract: Abstract Purpose: The authors interpret the cyber economy (digital economy) as business activities in which information becomes the primary factor of production, as well as that part of economic relations which is mediated by the development of the Internet and digital communication in the field of information. Design/methodology/approach: The authors perform analysis of the factors of production in the cyber economy and determine the current problems for the business sector, which are connected to imperfection of governmental regulation in the cyber economy. Modeling of the behavior pattern of the market entity and information asymmetry in the goods and services market is performed. Findings: The authors develop the scientific and methodological provision of the decision-making process in the cyber economy, which includes the algorithm of this process (which reflects its sequence and logical structure) and formulas for evaluating its efficiency at the corresponding stages. Originality/value: The authors determine that information asymmetry will be present in any market. In the business sector, however, it should be minimized. This can be achieved through thorough control over information on the part of the state, nonprofit organizations, and people engaged in socially important areas of activities (in educational, medical organizations, etc.), as well as through the support of the decision-making process. It is difficult to reduce information asymmetry in the market economy, but the complexity is simplified in the course of transition to the cyber economy due to the large number of information transmission and dissemination channels.

Keywords: Decision support; Entrepreneurial sector; Cyber economy; Information asymmetry; D81; G01; G32; H12; O31; O32; O33; O38 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-31566-5_25

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DOI: 10.1007/978-3-030-31566-5_25

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