Ecomomic relationships in the information economy

Absztrakt

This paper explores how the knowledge economy influences different market structures, specifically focusing on perfectly competitive, monopoly, and oligopoly markets. It examines the role of information and communication technologies (ICTs) in reducing costs and enhancing access to market information, thereby impacting market dynamics and economic activities. The study highlights that in a monopoly, price discrimination can lead to economic inefficiencies but also serves as a tool to enhance social welfare under certain conditions in the knowledge economy. In oligopoly markets, firms are highly interdependent, and their behavior regarding pricing and production can shift the market towards monopolistic tendencies if innovation is not matched by competitors. Furthermore, the paper discusses how the knowledge economy reshapes macroeconomic variables, such as economic growth, employment, and foreign trade, emphasizing the importance of human capital and ICTs in fostering innovation and international trade. The knowledge economy, therefore, has profound implications for market competition, economic development, and global trade, enabling greater innovation and efficiency.