In this article, we will be exploring two different models given for agents within an economic context. We will talk about how standard economics offers this model of the rational individual sometimes called homo economicus, and we will draw upon the new area of behavioral economics which presents an alternative model to human behavior within an economic context.
With the rise of the services economy and information technology fundamentally new forces are at play in the global economy and this is giving birth to a new form of business organization called the platform business that is adapted to this age of connectivity.
A central question facing any economic system is how to harness all of the resources available within the society towards productive ends and then distribute the returns in an equitable fashion. Within just the past couple of years, the topic of
In this paper, we look at the nature of this new form of services economy, how vertically integrated, service providers now tend to engage in networked value creation in ecosystem-like environments - what can be called service value networks (SVNs) and how this development requires new cooperation forms in loosely-coupled structures of autonomous organizations.
Short image and text presentation highlighting the scale and impact of digital platforms on the physical economy. This video tries to highlight how online platforms like Alibaba, Uber or AirBnB are playing an increasingly important role in organizing physical assets, from the flow of products exchanged in commerce to accommodation and transportation.
The study of incentives is one of the central topics in microeconomics - incentives to work hard, to produce quality products, to study, to invest, to save, etc. How to design institutions that provide good incentives for economic agents has become a central question of economics. Behind this though is the idea of motivation, that is to say, what motives do economic agents operate under.