For many decades, the Coase theorem of the “Division of Labor” between organizations and markets has been the fundamental framework for understanding resource allocation and coordination mechanism. However, with the emergence of digital technology and platforms, traditional boundaries are disappearing before our very eyes and giving way to the facilitation of large-scale coordination with unprecedented participation. The application of digital transformation is changing the nature of work and the structure of the economy. While digital platforms have enabled innovations and new coordination mechanisms, they also pose challenges ahead.
The 2nd Frontier Dialogue of Luohan Academy focuses on the “New Coordination and Market Dynamics”. Its very purpose is to provide a place for prominent scholars, industry experts, policymakers to exchange views and address critical issues in practice regarding this topic. In particular, we hope to initiate discussions on what digital transformation means for crucial issues such as economic growth, inclusion, innovation, and competition.
Catherine Tucker is a Sloan Distinguished Professor of Management Science and Professor of Marketing at MIT Sloan. Her research interests lie in how technology allows firms to use digital data and machine learning to improve performance, and in the challenges it poses for regulation. In the 2nd Luohan Academy Frontier Dialogue, Professor Tucker shared her thoughts upon the network effects, big data, and competition policy in this digital era.
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