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Silvana Bartoletto

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Edited by Alan B. Albarran

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Patrizio Bianchi, Sandrine Labory and Clemente Ruiz Durán

The beginning of the twenty-first century is turning out to be full of disruptions and challenges for economies and societies. Climate change, world population growth, migratory pressures, are pressing challenges; the financial crisis has had a dramatic effect and many economies have had difficulties in recovering their pre-crisis development level. Meanwhile, innovation and technological changes are accelerating, in various fields including genomics, nanotechnologies, information and communication technologies (ICTs) and big data, robotics and artificial intelligence, new materials, and others. ICTs, with the Internet of Things (IoT), the Cloud, big data, are allowing hyper-connection of people and objects and digitisation of production processes. The change induced is so disruptive that there is quite wide consensus that we are experiencing an industrial revolution, the fourth one. New means of production and new products are appearing and will continue doing so, changing individuals’ life in important aspects, namely economic, social and cultural.

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Patrizio Bianchi and Sandrine Labory

This introductory chapter to the book reviews global trends in markets, focusing on globalisation and digitalisation. It is argued that the global economy seems to have entered a new phase after the financial crisis, whereby flows of goods no longer exponentially rise while data flows boom. This new phase can therefore be called ‘digital globalisation’, spurred by the fourth industrial revolution, the meaning and implications this book aims at analysing, especially regarding industry and industrial policy.

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Patrizio Bianchi and Sandrine Labory

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Michael R. Baye and John Morgan

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Johannes M. Bauer and Michael Latzer

In the Internet economy many of the theoretical assumptions and historical observations upon which economics rests need to be reexamined. Economics built a very successful research program by focusing on the choices and behavior of rational individual decision-makers under conditions of scarcity. In this highly stylized framework, eventually increasing incremental costs, decreasing marginal utility and resource constraints result in negative feedback that moves economic processes toward equilibrium states. The rigorous analysis of these equilibria at the micro and macro level was a major achievement of economics. In an economy built around digital technology some of these conditions change fundamentally. Scale economies, interdependencies, and abundance are pervasive and call for analytical concepts that augment the traditional approaches.

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Edited by Johannes M. Bauer and Michael Latzer

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Anders Henten and Reza Tadayoni

The aim of the paper is to examine the increasing dominance of IT companies in the converging ICT industry and, on the basis of this development, to contribute to extending the theoretical understanding of market and industry convergence in the ICT area. The term convergence is often used, but relatively little theory concerning convergence has been developed except for the basic differentiation between convergence based on substitution and convergence based on complementation. The framework proposed in the paper is a combination of the complementation/substitution framework with the structuralist concept of articulation used on modes of operation of companies from different parts of the ICT industries and the resource based view on companies extended to a sector perspective and the path dependent developments of the IT, telecoms and media sectors. Two kinds of empirical evidence are examined in order to discuss the emerging relations of dominance in the ICT area. First, there is a comparison of the basic technological properties of Internet communications and telecoms. Furthermore, there are two cases: One on the smartphone market and one on OTT TV. The two cases have an exemplary character illustrating the increasing dominance of the IT area in relation to telecoms and broadcasting, respectively.

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Erik Bohlin, Hidenori Fuke and Hitoshi Mitomo