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Research on Economic Theory Under the Operation of Business Model 4.0

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  • Chiou-Wen Chen
  • Chih Huang

Abstract

With the emergence of intelligent technology for cyber-physical systems (CPS), manufacturers’ production has come to the age of Industry 4.0, and the corresponding Business Model 4.0 has been born. Under Business Model 4.0, can consumers and producers obtain instant, sufficient, and transparent product or service information through the Internet in mutually beneficial behaviors? This article examines the economic system under the operation of Business Model 4.0 from the perspective of relevant theories of economics and attempt to analyze the theoretical mechanism of the operation of Business Model 4.0. It is found in the article that under the process of Business Model 4.0, it should be possible to quickly and easily achieve the conditions of Pareto efficient allocation in the economic theory. However, everyone involved in the Internet has to behave in favor of others in this Business Model 4.0. If this factor is lacking, the efficiency of the economic system may disappear.

Suggested Citation

  • Chiou-Wen Chen & Chih Huang, 2023. "Research on Economic Theory Under the Operation of Business Model 4.0," SAGE Open, , vol. 13(1), pages 21582440231, March.
    • Handle: RePEc:sae:sagope:v:13:y:2023:i:1:p:21582440231164124
    DOI: 10.1177/21582440231164124
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    References listed on IDEAS

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