The ICT Revolution in Consumer Product Markets

Assar Lindbeck and Solveig Wikström
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Solveig Wikström: School of Business, Stockholm University, Postal: Stockholm University, S-106 69 Stockholm, Sweden

No 670, Seminar Papers from Stockholm University, Institute for International Economic Studies

Abstract: New informationa and communication technology (ICT) makes consumers better informed about available products, product quality and prices, which mitigates problems of assymetry of information. The entry of firms is facilitated, competition and economic efficiency is boosted and the market powers of households is increased. Firms are likely to respond by increased product and price differentiation. There will also be considerable changes in the division of tasks between firms and households. But important obstacles to these developments are technological vulnerability, quality problems in the information of the Internet, cognitive limitations of individuals and weaknesses in the product-delivery infrastructure in connection with Internet trade.

Keywords: information technology; consumer goods markets; household production; competition; pricing; assymetric information (search for similar items in EconPapers)
JEL-codes: D13 D40 D80 L10 (search for similar items in EconPapers)
Pages: 30 pages
Date: 1999-05-01
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http://su.diva-portal.org/smash/get/diva2:328299/FULLTEXT01 (application/pdf)

Related works:
Working Paper: The ICT Revoluation in Consumer Product Markets (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:iiessp:0670

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