Data and Markets

Maryam Farboodi () and Laura Veldkamp ()
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Maryam Farboodi: Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts, USA
Laura Veldkamp: Graduate School of Business, Columbia University, New York, NY, USA

Annual Review of Economics, 2023, vol. 15, issue 1, 23-40

Abstract: Big data is changing every corner of economics and finance. The largest firms in the US economy are valued chiefly for their data. Yet, these data are largely excluded from macroeconomic and finance research. We review work and relevant tools for measuring economic activity, market power, data markets, and the role of data in financial markets. We also highlight areas where future work is needed.

Keywords: big data; data economy; data markets; data feedback loop; data valuation; financial data (search for similar items in EconPapers)
JEL-codes: D40 D46 D80 D83 E01 E22 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1146/annurev-economics-082322-023244

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