Computer Mediated Transactions

  title={Computer Mediated Transactions},
  author={Hal R. Varian},
  journal={The American Economic Review},
  • H. Varian
  • Published 2010
  • Economics
  • The American Economic Review
Every now and then a set of technologies becomes available that sets off a period of “combinatorial innovation.” Think of standardized mechanical parts in the 1800s, the gasoline engine in the early 1900s, electronics in the 1920s, integrated circuits in the 1970s, and the internet in the last decade or so. The component parts of these technologies can be combined and recombined by innovators to create new devices and applications. Since these innovators are working in parallel with similar… Expand
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