Computer Mediated Transactions

author: Hal R. Varian, Google, Inc.
published: July 22, 2009,   recorded: July 2009,   views: 7574


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These days nearly every economic transaction involves a computer in some form or other. What does this mean for economics? I argue that the ubiquity of computers enables new and more efficient contractual forms, better alignment of incentives, more sophisticated data extraction and analysis, creates an environment for controlled experimentation, and allows for personalization and customization. I review some of the long and rich history of these phenomena and describe some of their implications for current and future practices.

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Reviews and comments:

Comment1 Manny, December 2, 2021 at 7:24 a.m.:

Enjoyed watching this video. Very informative.

Comment2 Faith Saha, December 17, 2021 at 3:49 a.m.:

What does this mean for economics? well explained. Thanks.

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