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The transformative impact of business models

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  • Ghafele, Roya
  • Gibert, Benjamin

Abstract

The macroeconomic impact of advances in information and communications technologies is significant but problematic to assess. Research on these developments has been isolated to specific disciplines, easily outpaced by new innovations and few studies describe the multiple changes and their macroeconomic consequences in a holistic way. The increasing ability to organize, price and transmit information to the market is ushering in an era where economic actors are highly responsive to the market. Technological advance alone does not capture the benefits of these developments. It is the innovative business model that lies at the heart of this revolution in responsiveness. We outline four major economic shifts in this study by reference to some paradigmatic business models. These shifts include pricing strategy innovations and their effect on the creation and expansion of market spaces, structural shifts in electronic markets and the effects on transaction costs, the deeper interaction between firms and consumers and the effects on more efficient matching of supply and demand, and finally the economic impact of elasticity and infinite scalability in computing resources when delivered as a utility by cloud computing providers. These advances do not only increase the commercial possibilities, they actively alter the competitive landscape and the role of the firm and consumer. This paper establishes some key areas where the increased responsiveness of economic actors is increasingly stimulating innovation, efficiency and productivity.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 38346.

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Date of creation: 2011
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Handle: RePEc:pra:mprapa:38346

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Keywords: pricing strategies; expansion of market spaces; economic impact of elasticity and infinite scalability; cloud computing;

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  1. Teece, David J., 1986. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," Research Policy, Elsevier, vol. 15(6), pages 285-305, December.
  2. Indjikian, Rouben & Siegel, Donald S., 2005. "The Impact of Investment in IT on Economic Performance: Implications for Developing Countries," World Development, Elsevier, vol. 33(5), pages 681-700, May.
  3. Michael A. Arnold & Thierry Pénard, 2007. "Bargaining and Fixed Price Offers: How Online Intermediaries are Changing New Car Transactions," Working Papers 07-03, University of Delaware, Department of Economics.
  4. Alexander Osterwalder & Yves Pigneur, 2002. "An e-Business Model Ontology for Modeling e-Business," Industrial Organization 0202004, EconWPA.
  5. Pénard, Thierry & Brousseau, Eric, 2007. "The Economics of Digital Business Models: A Framework for Analyzing the Economics of Platforms," Economics Papers from University Paris Dauphine 123456789/7127, Paris Dauphine University.
  6. Mazzoleni, Roberto & Nelson, Richard R., 1998. "The benefits and costs of strong patent protection: a contribution to the current debate," Research Policy, Elsevier, vol. 27(3), pages 273-284, July.
  7. Yannis Bakos, 2001. "The Emerging Landscape for Retail E-Commerce," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 69-80, Winter.
  8. Stephen G. Cecchetti, 2002. "The New Economy and the Challenges for Macroeconomic Policy," NBER Working Papers 8935, National Bureau of Economic Research, Inc.
  9. Ghafele, Roya & Gibert, Benjamin, 2011. "Crowdsourcing patent application review: leveraging new opportunities to capitalize on innovation?," MPRA Paper 38092, University Library of Munich, Germany.
  10. Baye, Michael R. & Morgan, John, 2002. "Information gatekeepers and price discrimination on the internet," Economics Letters, Elsevier, vol. 76(1), pages 47-51, June.
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