Transformation of the institution of economic communications in the digital economy

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Transformation of the institution of economic communications in the digital economy

Journal Title: Економічна теорія та право - Year 2018, Vol 4, Issue 35

Abstract

Communications are traditionally referred to as a process of exchanging information, some aspects of which are researched by various sciences. This phenomenon has not been a part of the subject field of economics. Simultaneously, under conditions of the significant transformation of an economic system manifesting in different forms, information economic communications and relations embodied in them, as well as a system of rules organizing these communications and their role in economic development have been rapidly changed. Recent research and publication analysis. Researching information economic communications is at a stage of the formation of its methodological basis. Improving methodology of scientific research of economic communications and involving new institutional and behavioural economies in this process create theoretically and practically significant opportunities for perception of new trajectories of sustainable development, indication of actual competitive advantages, and strengthening market positions in the global digital environment through analysing the institution of economic information communications. Paper objective. The article objective is to consider transformations of the institution of information economic communications under conditions of the digital economy. Paper main body. The multi-modal nature of mass self-communication enables to reformat the content of mass self-communication through free access to software. Communities of network media play the significant role in the formation and maintaining such form of information economic communications. Development of these communities has fostered establishing corporate and professional network communication owing to gathering people with similar interests. A single information area falls into particular components. Trust between participators is higher within each of these components than outside them. The participators select information and form own views on the reality and own understanding the truth. Conclusions. Transformations within the Internet and development of the entire Internet community have resulted in the formation of a new generation of the Internet. This increases opportunities of real participation of consumers in the formation of the content of the virtual space. Gradually, due to expansion of the phenomenon and involving a large number of people, the discourse has begun to be less oriented towards technological issues and more oriented towards issues of the economy and competition. Short abstract for an article Abstract. The author has ascertained that considerable changes of the techno-economic paradigm facilitate transformations of components of a communication process, a system of rules underlying its function, and a mechanism of its influence on development of economic systems of all levels. Changes of social forms of space and time stipulate new realities of economic practices. The author has substantiated that mass self-communication becomes forcing power for contemporary economic communications and ambiguously influences constituent norms of a market: empathy, depersonalized trust, complicated utilitarianism, and purposeful rational behaviour.

Authors and Affiliations

Ольга Володимирівна Меленцова

Keywords

information economic communications; mass self-communication; transformation of economic communications; digital economy.

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EP ID EP468791
DOI 10.31359/2411-5584-2018-35-4-99
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