The Age of Prosumerism: Some Micro-Economic Analysis

Abstract: Many users or consumers now operate the two sides of the market as consumers and producers. They are known as prosumers. Their presence is changing the economic dynamic. This paper develops two models, the prosumerism model that determines the prosumer equilibrium; the amount of the privat...

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Autor principal:	Alderete,María Verónica
Lenguaje:	English
Publicado:	Universidad de Talca 2017
Materias:	Prosumer Customization Network effects Microeconomic Open innovation
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762017000300002
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spelling	oai:scielo:S0718-187620170003000022018-01-11The Age of Prosumerism: Some Micro-Economic AnalysisAlderete,María Verónica Prosumer Customization Network effects Microeconomic Open innovation Abstract: Many users or consumers now operate the two sides of the market as consumers and producers. They are known as prosumers. Their presence is changing the economic dynamic. This paper develops two models, the prosumerism model that determines the prosumer equilibrium; the amount of the private good and prosumer good. The second one is the customization model based on the principal agent framework, where the principal is the manufacturer innovator and the agent the user. Results obtained predict abundance of the prosumer good in the prosumerism model and that the most innovative users will have a higher level of participation in the value creation process than the less innovative ones in the customization model. Hence, policy should encourage users’ participation in the value creation and innovation processes to achieve a higher social welfare.info:eu-repo/semantics/openAccessUniversidad de TalcaJournal of theoretical and applied electronic commerce research v.12 n.3 20172017-09-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762017000300002en10.4067/S0718-18762017000300002
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Prosumer Customization Network effects Microeconomic Open innovation
spellingShingle	Prosumer Customization Network effects Microeconomic Open innovation Alderete,María Verónica The Age of Prosumerism: Some Micro-Economic Analysis
description	Abstract: Many users or consumers now operate the two sides of the market as consumers and producers. They are known as prosumers. Their presence is changing the economic dynamic. This paper develops two models, the prosumerism model that determines the prosumer equilibrium; the amount of the private good and prosumer good. The second one is the customization model based on the principal agent framework, where the principal is the manufacturer innovator and the agent the user. Results obtained predict abundance of the prosumer good in the prosumerism model and that the most innovative users will have a higher level of participation in the value creation process than the less innovative ones in the customization model. Hence, policy should encourage users’ participation in the value creation and innovation processes to achieve a higher social welfare.
author	Alderete,María Verónica
author_facet	Alderete,María Verónica
author_sort	Alderete,María Verónica
title	The Age of Prosumerism: Some Micro-Economic Analysis
title_short	The Age of Prosumerism: Some Micro-Economic Analysis
title_full	The Age of Prosumerism: Some Micro-Economic Analysis
title_fullStr	The Age of Prosumerism: Some Micro-Economic Analysis
title_full_unstemmed	The Age of Prosumerism: Some Micro-Economic Analysis
title_sort	age of prosumerism: some micro-economic analysis
publisher	Universidad de Talca
publishDate	2017
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762017000300002
work_keys_str_mv	AT alderetemariaveronica theageofprosumerismsomemicroeconomicanalysis AT alderetemariaveronica ageofprosumerismsomemicroeconomicanalysis
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The Age of Prosumerism: Some Micro-Economic Analysis

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