4 The Economics of Digitalization and Automation
Objectives and Learning Outcomes
The objective of this chapter is to show the deep impact of the most important technological development of our time, digitalization, on the business context and management. After defining information technology and showing the dramatic decline of the cost of computing over time, which is reflected in what is known as “Moore’s law”, this chapter introduces the economics of information technology and outlines important models and applications. It further briefly outlines the societal challenges posed by these developments. Specific learning outcomes include:
- understanding what digitalization is and how it relates to information ...
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