Baley, I. and L.L. Veldkamp (2025). The data economy. tools and applications. Princeton, NJ: Princeton University Press

Orlando Gomes ()
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Orlando Gomes: Lisbon Accounting and Business School – Polytechnic University of Lisbon (ISCAL-IPL) and CEFAGE Research Center, ISCAL

Journal of Evolutionary Economics, 2025, vol. 35, issue 2, No 8, 385 pages

Abstract: Abstract This brief essay reviews the recently released book by Isaac Baley and Laura L. Veldkamp, The Data Economy. Tools and Applications. The book encloses high-quality state-of-the-art research, which is essential reading for any scientist interested in the economics of data, a new and exciting field of knowledge that economists are beginning to explore. Big data is a fundamental asset and input for many firms in the modern economy and, therefore, it is of utmost importance to understand how it is reshaping firms, markets, and the economy as a whole. The authors offer a meaningful set of statistical and modeling tools to address the data economy, which is then discussed and analyzed in detail throughout a series of chapters that approach, among many others, topics such as the role of data as a prediction device, market power in the data economy, or the emergence of data brokers and platforms.

Keywords: Data economy; Prediction; Uncertainty; Data dynamics; Market competition; Feedback loops (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s00191-025-00893-x

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