Digitization, the process of converting information into a digital format (bits, short for binary digits), has dramatically reduced replication costs, as well as the costs of transmitting information. This survey examines how those important reduction in costs affect economic activity through the lens of incentives, prices and efficiency.
1. Introduction
2. Selling
3. Price dispersion
4. Data and privacy
5. Network effects and platforms
6. Digital commons
7. Intellectual property and creativity
8. Productivity and the labour market
9. Conclusion
References