补贴
效率低下
利润(经济学)
内生增长理论
测量数据收集
生产(经济)
经济
业务
产业组织
微观经济学
市场经济
人力资本
数学
统计
作者
Lin William Cong,Danxia Xie,Longtian Zhang
出处
期刊:Management Science
[Institute for Operations Research and the Management Sciences]
日期:2021-08-24
卷期号:67 (10): 6480-6492
被引量:94
标识
DOI:10.1287/mnsc.2021.3986
摘要
We build an endogenous growth model with consumer-generated data as a new key factor for knowledge accumulation. Consumers balance between providing data for profit and potential privacy infringement. Intermediate good producers use data to innovate and contribute to the final good production, which fuels economic growth. Data are dynamically nonrival with flexible ownership while their production is endogenous and policy-dependent. Although a decentralized economy can grow at the same rate (but are at different levels) as the social optimum on the Balanced Growth Path, the R&D sector underemploys labor and overuses data—an inefficiency mitigated by subsidizing innovators instead of direct data regulation. As a data economy emerges and matures, consumers’ data provision endogenously declines after a transitional acceleration, allaying long-run privacy concerns but portending initial growth traps that call for interventions. This paper was accepted by Kay Giesecke, finance.
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