Recent Applications of Economic Theory in Information Technology Research
Academicians and practitioners are becoming increasingly interested inthe economics of Information Technology (IT). In part, this intereststems from the increased role that IT now plays in the strategicthinking of most large organizations, and from the significant dollarcosts expended by these organizations on IT. Naturally enough,researchers are turning to economics as a reference discipline in theirattempt to answer questions concerning both the value added by IT andthe true cost of providing IT resources. This increased interest in theeconomics of IT is manifested in the application of a number of aspectsof economic theory in recent information systems research, leading toresults that have appeared in a wide variety of publication outlets.This article reviews this work and provides a systematic categorizationas a first step in establishing a common research tradition, and toserve as an introduction for researchers beginning work in this area.Six areas of economic theory are represented: information economics,production economics, economic models of organizational performance,industrial organization, institutional economics (agency theory andtransaction cost theory), and macroeconomic studies of IT impact. Foreach of these areas, recent work is reviewed and suggestions for futureresearch are provided.
Year of publication: |
1992-12
|
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Authors: | Yannis, Bakos ; Kemerer, C.F. |
Publisher: |
Decision Support Systems |
Subject: | information technology | economic theory | econometrics | information economics | economies of scale | organizational economics | industrial economics | transaction costs | agency theory |
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