1. New Rules of the Digital Economy: Who Are the Winners?
Ken Binmore
ELSECo
University College London

2. old economic environment
trial and error learning
profitable
action
old rules of thumb
fundamental
economic
principles
unprofitable action
mechanism design
new rules
of thumb
profitable action
new economic
environment

3.       naïve search sellers cheapest price buyers automated agent
delivery
search
sellers
cheapest price

4.       product differentiation personalized products
purchase
information
price
price discrimination

5.          sophisticated agents answer question common agents
mechanism design
revelation principle

6.   auctions autmated markets multiple bilateral bargaining question
economic
enviroments
question  
game theory
answer
multiple
bargaining
strategies

7. network externalities
information goods
cheap
cheap
costly
copy 1
copy 2
copy 3
copy 4
copy 5
cheap
cheap
cost curves
marginal cost
marginal cost
quantity
quantity
information good
traditional good
network externalities

8.          sophisticated agents answer question common agents
mechanism design
revelation principle