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GDP-B: Accounting for the Value of New and Free Goods in the Digital Economy / Erik Brynjolfsson, Avinash Collis, W. Erwin Diewert, Felix Eggers, Kevin J. Fox.
- Format:
- Book
- Author/Creator:
- Brynjolfsson, Erik.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25695.
- NBER working paper series no. w25695
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- GDP-B
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- The welfare contributions of the digital economy, characterized by the proliferation of new and free goods, are not well-measured in our current national accounts. We derive explicit terms for the welfare contributions of these goods and introduce a new metric, GDP-B which quantifies their benefits, rather than costs. We apply this framework to several empirical examples including Facebook and smartphone cameras and estimate their valuations through incentive compatible choice experiments. For example, including the welfare gains from Facebook would have added between 0.05 and 0.11 percentage points to GDP-B growth per year in the US.
- Notes:
- Print version record
- March 2019.
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