MARKET INFORMATION AS SOCIO-ECONOMIC DEVELOPMENT SOURCE IN RUSSIA
The importance of integrating enterprises into the communications digital information field to effectively realize the potential of all areas of today`s market economy is due to fast-growing information and digital technologies. Online trading, web-positioning of business activities, use of electronic-digital reporting, web-training, social Internet services are becoming popular activities of market entities. In the digital economy, it is impossible to carry out market activities without information and the digital environment. The digital economy can be described as activities related to the development of information, the way it is transmitted and broadcast, as well as market interactions of actors using new information technologies. Market players provide information about their activities to increase their competitive advantage, but not all information is “useful” to market actors. There are problems with information asymmetry and its impact on the economic development of both individual markets and the economic system as a whole.
Keywords: digital economy, information asymmetry, production factors, socially important markets, market economy, economic development.
Highlights:
the factors of production in the digital economy were determined differently than in the current market economy model, where all factors were interchangeable. In the digital economy, information is an indispensable factor in production;
the market actors have a “scenario” of behavior, which is determined by rules and regulations that have developed in society. The asymmetry of information creates imbalances and uncertainties in the behavior of market players. There are risks that the weakest market entity faces;
in the case of socially important markets, information asymmetry creates the most significant risks for the consumer. In these markets, asymmetry should be minimal. That is why market actors and the state need to monitor the information provided.
Elena G. Gushchina, Candidate of Economics, Professor of the Department of World Economics and Economic Theory. E-mail: l055@mail.ru; Elena M. Vitaleva, Candidate of Economics, Associate Professor of the Department of World Economics and Economic Theory; Sergey K. Volkov, Candidate of Economics, Associate Professor, Dean of the Faculty of Economics and Management - Volgograd State Technical University.