- Hardcover: 232 pages
- Publisher: Princeton University Press; illustrated edition edition (Mar 10 2003)
- Language: English
- ISBN-10: 069108906X
- ISBN-13: 978-0691089065
- Product Dimensions: 24.4 x 16.5 x 2.1 cm
- Shipping Weight: 513 g
- Amazon Bestsellers Rank: #1,713,184 in Books (See Top 100 in Books)
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Product Details |
Product Description
From Publishers Weekly
Picture the Internet-to-be as a vast bazaar where all the buyers and sellers are intelligent software agents. Naturally, these hustlers of the virtual marketplace will need economists to help them optimize their strategies, and that's where this engrossing primer on applied microeconomics comes in. Oxford economist Vulkan develops an analytical apparatus featuring the assumption of rationality, the concept of equilibrium, and lots and lots of game theory to help readers understand how e-commerce will play out. As consumers deploy their ShopBots to search for the lowest prices, on-line retailers will respond with personalized products and prices, and surreptitiously compile databases on individual customers to help anticipate and manipulate their purchasing decisions. Meanwhile, online traders will use complex bidding strategies to outwit each other at eBay auctions and Internet exchanges. Vulkan intends the volume as a textbook for MBA students, but although there are graphs and some simple equations, the material is not beyond the grasp of a patient layperson. Such readers will find an engaging and lucid discussion of basic principles in micro-economics, covering the ways in which competition, collusion, transaction costs and incomplete information affect prices and profits, and illuminating such mysteries as why no one trusts used-car salesmen. While providing a useful overview for consultants and Web designers, the insights here are as applicable to real life as they are to the on-line world.
Copyright 2003 Reed Business Information, Inc.
Copyright 2003 Reed Business Information, Inc.
Review
A highly original study that will complement other works on the market. -- "Library Journal
The Economics of E-Commerce is really a textbook for postgraduate economics. But in its sophistication, it's a valuable analysis of how e-commerce works in economic terms. Corporate e-traders can learn much from it. Well-written, it is accessible to anyone with a couple of years of economics under his or her belt. -- "The Toronto Globe and Mail
The book represents the outcome of successful interdisciplinary research and an integrating tool in which computer science and economic theory are uniquely combined for business practice and academic research. . . . [It] interprets in an original and effective way current issues sometimes even neglected by economists [and] . . . represents a remarkable advance in the economic analysis of e-commerce. -- Marcella Scrimitore, The Economist
The Economics of E-Commerce is really a textbook for postgraduate economics. But in its sophistication, it's a valuable analysis of how e-commerce works in economic terms. Corporate e-traders can learn much from it. Well-written, it is accessible to anyone with a couple of years of economics under his or her belt. -- "The Toronto Globe and Mail
The book represents the outcome of successful interdisciplinary research and an integrating tool in which computer science and economic theory are uniquely combined for business practice and academic research. . . . [It] interprets in an original and effective way current issues sometimes even neglected by economists [and] . . . represents a remarkable advance in the economic analysis of e-commerce. -- Marcella Scrimitore, The Economist
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