Abstract
Digital technology is the representation of information in bits. This technology has reduced the cost of storage, computation, and transmission of data. Research on digital economics examines whether and how digital technology changes economic activity. In this review, we emphasize the reduction in five distinct economic costs associated with digital economic activity: search costs, replication costs, transportation costs, tracking costs, and verification costs. (JEL D24, D83, L86, O33, R41)
Citation impact
2,237
total citations
- FWCI
- 117.94
- Percentile
- 100%
- References
- 292
Citations per year
Authors
2Topics & keywords
Topics
Keywords
- Cost reduction
- Replication (statistics)
- Economic cost
- Representation (politics)
- Computation
- Computer science
- Reduction (mathematics)
- Economics
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