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Business Model Innovation
Pages 48 (12048 words)
In this research the next question is studied: To what extent is business model innovation relevant for achieving success in e-commerce from a micro-economic framework The literature review deals with this issue in direct and indirect ways by taking a look at some principles of consumer theory based mainly on evolutionary micro-economics instead of neoclassical micro-economics.
AGLOCO (2007) stands for A GLOBAL COMMUNITY. It is a new online startup that it is promising to every member to "Own The Internet" as a slogan that hides within it the universal ideal of leveraging the power of Internet in our lives. It could be in a direct way, or in an indirect one. It is a hidden desire of all cybernauts to own the Internet. AGLOCO has captured it in a simple slogan: "Own the Internet". The driving force behind the Internet is to build a universal network where everybody can profit in one way or another. According to a neoclassical micro-economic perspective there should be a solution to this dilemma as the Adam Smith's invisible hand in the market would level things up. According to evolutionary micro-economics, the market agents are not so rational as we would to expect. Bounded rationality plays a strong influence in the interacting game of all of the market's agents1. The contributions of the Nobel Laureates in Economics such as Herbert A. ...
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