Profits and losses of manufacturers and consumers in the pleasure economy in Industry 4.0 by the example of developing countries

Elena Y. Astakhova, Galina N. Semenova, Tatyana V. Shchukina and Zhanna A. Telegina

International Journal of Trade and Global Markets, 2021, vol. 14, issue 4/5, 360-369

Abstract: The purpose of the paper is to determine the profits and losses of manufacturers and consumers in the pleasure economy in Industry 4.0 in developing countries. The authors use the method of aggregation and systemic analysis of statistical data for determining advantages and weaknesses of Industry 4.0 in developing countries that are connected to commodity and service markets. Expert evaluations are used for determining the characteristics of activity in the commodity and service markets for manufacturers (and sellers) and buyers in the pre-digital technological mode and in Industry 4.0 and for determining the weights of criteria for consumers, manufacturers, and sellers. It is substantiated that advantages of Industry 4.0 for the pleasure economy in developing countries in the commodity and service markets are very vivid.

Keywords: profits; losses; manufacturers; consumers; pleasure economy; Industry 4.0; developing countries; BRICS; markets; risks. (search for similar items in EconPapers)
Date: 2021
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