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The ICT Revolution in Consumer Product Markets

Author

Listed:
  • Lindbeck, Assar

    () (Institute for International Economic Studies, Stockholm University)

  • Wikström, Solveig

    (School of Business, Stockholm University)

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.

Suggested Citation

  • Lindbeck, Assar & Wikström, Solveig, 1999. "The ICT Revolution in Consumer Product Markets," Seminar Papers 670, Stockholm University, Institute for International Economic Studies.
  • Handle: RePEc:hhs:iiessp:0670
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    information technology; consumer goods markets; household production; competition; pricing; assymetric information;

    JEL classification:

    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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