A Growth Model Of The Data Economy
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A Growth Model Of The Data Economy
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Author : Maryam Farboodi
language : en
Publisher:
Release Date : 2021
A Growth Model Of The Data Economy written by Maryam Farboodi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
The rise of information technology and big data analytics has given rise to "the new economy." But are its economics new? This article constructs a growth model where firms accumulate data, instead of capital. We incorporate three key features of data: 1) Data is a by-product of economic activity; 2) data is information used for prediction, and 3) uncertainty reduction enhances firm profitability. The model can explain why data-intensive goods or services, like apps, are given away for free, why many new entrants are unprofitable and why some of the biggest firms in the economy profit primarily from selling data. While our transition dynamics differ from those of traditional growth models, the long run still features diminishing returns. Just like accumulating capital, accumulating predictive data, by itself, cannot sustain long-run growth.
The Economics Of Data
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Author : Dan Ciuriak
language : en
Publisher:
Release Date : 2018
The Economics Of Data written by Dan Ciuriak and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
The economics of the emerging data-driven economy can be situated in theoretical models of endogenous growth which introduce research and development, human capital formation, and Schumpeterian creative destruction as drivers of economic growth, together with positive externalities related to local knowledge spillovers. This theoretical framework allows for differential rates of growth in different countries based on their policies to support innovation and for innovation to generate market power and monopoly rents. However, the data-driven economy has several structural features that make it at least a special case of the general endogenous growth model, if not a new model altogether. These include pervasive information asymmetry, the industrialization of learning through artificial intelligence, the proliferation of superstar firms due to "winner take most" market dynamics, new forms of trade and exchange, the value of which is not captured by traditional economic accounting systems, and systemic risks due to vulnerabilities in the information infrastructure. This note explores these issues.
Data Economy In The Digital Age
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Author : Samiksha Shukla
language : en
Publisher: Springer Nature
Release Date : 2023-12-21
Data Economy In The Digital Age written by Samiksha Shukla and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-21 with Technology & Engineering categories.
The book is a comprehensive guide that explores the concept of data economy and its implications in today's world. The book discusses the principles and components of the ecosystem, the challenges and opportunities presented by data monetization, and the potential risks related to data privacy. Real-life examples and case studies are included to understand the concepts better. The book is suitable for individuals in data science, economics, business, and technology and for students, academics, and policymakers. It is an excellent read for anyone interested in the data economy.
A Model Of The Data Economy
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Author : Maryam Farboodi
language : en
Publisher:
Release Date : 2021
A Model Of The Data Economy written by Maryam Farboodi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
In a data economy, transactions of goods and services generate information, which is stored, traded and depreciates. How are the economics of this economy different from traditional production or innovation economies? How do these differences matter for measurement of GDP, firm values, depreciation rates, welfare and externalities? Despite incorporating active experimentation and data as an intangible asset, we devise a tractable recursive representation. Because the resulting model maps to many observable macro and finance measures, it can be calibrated and estimated like its old-economy DSGE counterpart. The model also delivers insights: It rationalizes why apps are often "free," why firm size is diverging and why even non-digital economic activity might be greater than GDP suggests.
Multisector Growth Models
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Author : Terry L. Roe
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-10-03
Multisector Growth Models written by Terry L. Roe and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-03 with Business & Economics categories.
The primary objective of this book is to advance the state of the art in specifying and ?tting to data structural multi-sector dynamic macroeconomic models, and empirically implementing them. The fundamental construct upon which we build is the Ramsey model. A most attractive feature of this model is the insights it provides into the dynamics of an economy in tr- sition to long-run equilibrium. With some exceptions, Ramsey models are highly aggregated – typically single sector models. However, interest often lies in understanding the forces of e- nomic growth across multiple sectors of an economy and on how policy impacts likely play out over time. Such analyses call for moredisaggregatedmodelsthatcanbe?ttocountryorregional data.Thisbookshowshowto:(i)extendthebasicmodeltom- tiple sectors, (ii) how to adapt the basic model to account for policy instruments, and (iii) ?t the model to data, and obtain equilibrium values both forward and backward in time from the data points to which the model is initially ?t.
The Economics Of Growth
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Author : Philippe Aghion
language : en
Publisher: MIT Press
Release Date : 2008-12-19
The Economics Of Growth written by Philippe Aghion and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-19 with Business & Economics categories.
A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design. This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations. The Economics of Growth first presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policies—analyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policy—and the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.
The Data Economy
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Author : Sree Kumar
language : en
Publisher: Routledge
Release Date : 2018-10-03
The Data Economy written by Sree Kumar and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-03 with Social Science categories.
"The data economy" is a term used by many, but properly understood by few. Even more so the concept of "big data". Both terms embody the notion of a digital world in which many transactions and data flows animate a virtual space. This is the unseen world in which technology has become the master, with the hand of the human less visible. In fact, however, it is human interaction in and around technology that makes data so pervasive and important – the ability of the human mind to extract, manipulate and shape data that gives meaning to it. This book outlines the findings and conclusions of a multidisciplinary team of data scientists, lawyers, and economists tasked with studying both the possibilities of exploiting the rich data sets made available from many human–technology interactions and the practical and legal limitations of trying to do so. It revolves around a core case study of Singapore’s public transport system, using data from both the private company operating the contactless payment system (EZ-Link) and the government agency responsible for public transport infrastructure (Land Transport Authority). In analysing both the possibilities and the limitations of these data sets, the authors propose policy recommendations in terms of both the uses of large data sets and the legislation necessary to enable these uses while protecting the privacy of users.
The Economics And Implications Of Data
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Author : Mr.Yan Carriere-Swallow
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-23
The Economics And Implications Of Data written by Mr.Yan Carriere-Swallow and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-23 with Computers categories.
This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.
Data Right And Economic Growth
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Author : Jinglei Huang
language : en
Publisher:
Release Date : 2023
Data Right And Economic Growth written by Jinglei Huang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
We build an endogenous growth model to study the optimal design of data rights in a data economy. Analysis shows that the duration of data rights protection can significantly affect long-term economic growth through three channels: consumers' privacy concerns, the incentives to develop processed data, and the bargaining power between data intermediaries and the innovation sector. Moreover, the optimal length of data rights is relatively longer than traditional intellectual properties but finite. It also increases with the privacy cost of public data and decreases with the discount rate of privacy concerns.
New Horizons For A Data Driven Economy
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Author : José María Cavanillas
language : en
Publisher: Springer
Release Date : 2016-04-04
New Horizons For A Data Driven Economy written by José María Cavanillas and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-04 with Computers categories.
In this book readers will find technological discussions on the existing and emerging technologies across the different stages of the big data value chain. They will learn about legal aspects of big data, the social impact, and about education needs and requirements. And they will discover the business perspective and how big data technology can be exploited to deliver value within different sectors of the economy. The book is structured in four parts: Part I “The Big Data Opportunity” explores the value potential of big data with a particular focus on the European context. It also describes the legal, business and social dimensions that need to be addressed, and briefly introduces the European Commission’s BIG project. Part II “The Big Data Value Chain” details the complete big data lifecycle from a technical point of view, ranging from data acquisition, analysis, curation and storage, to data usage and exploitation. Next, Part III “Usage and Exploitation of Big Data” illustrates the value creation possibilities of big data applications in various sectors, including industry, healthcare, finance, energy, media and public services. Finally, Part IV “A Roadmap for Big Data Research” identifies and prioritizes the cross-sectorial requirements for big data research, and outlines the most urgent and challenging technological, economic, political and societal issues for big data in Europe. This compendium summarizes more than two years of work performed by a leading group of major European research centers and industries in the context of the BIG project. It brings together research findings, forecasts and estimates related to this challenging technological context that is becoming the major axis of the new digitally transformed business environment.