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• W2167311936 abstract "The emergence of E-commerce in the 1990s heralded the arrival of the New Economy. However, the failure of numerous dotcoms since early 2001 has led to a debate regarding the future direction of E-commerce and its potential relevance for agribusiness. This study examines the economic implications of E-commerce for agribusiness within the framework of New Institutional Economics. The New Institutional Economics implies that E-commerce has the potential to reduce direct transactions costs in agricultural markets, but that it also may add additional indirect transactions costs. Depending upon the tradeoff between these costs, an institutional innovation which reduces the transactions costs may provide the impetus for an alternative marketing channel for agricultural output. Two models of institutional change are explored. The North model of changes in the rules of the game is found to be more consistent with the advent of E-commerce than the model of technological change suggested by Schumpeter. During the 1990s, a business paradigm known as the New Economy emerged in the United States. This paradigm held that companies could use information technology (IT) to become more responsive to the needs of producers, processors, wholesalers, distributors, retailers, and consumers. IT provides for electronically gathering, generating, storing, analyzing, distributing, and using information. E-commerce, made possible through IT, has enabled business to increase efficiencies associated with supply chain management (SCM). E-commerce encompasses any economic transaction performed through electronic communication and comprises electronic data interchange (EDI), internet, and extranet. EDI systems are networks which enable firms to send data between remote establishments or to link with other firms to conduct business transactions. While EDI networks are private, the internet is a public electronic network that can be used for transactions between firms as well as transactions between firms and consumers. The extranet uses the" @default.
• W2167311936 created "2016-06-24" @default.
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• W2167311936 date "2003-01-01" @default.
• W2167311936 modified "2023-09-25" @default.
• W2167311936 title "INSTITUTIONAL ECONOMICS AND THE EMERGENCE OF E-COMMERCE IN AGRIBUSINESS" @default.
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• W2167311936 doi "https://doi.org/10.22004/ag.econ.14675" @default.
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