Abstract
The development of the digital economy and the 4th Industrial Revolution (IV R) bring new dilemmas to economics. The challenges are numerous, and in our paper, we concentrated on two important phenomena of digitalization: (1) whether data has become an equally important factor of production as capital, labor, and land and (2) what changes occur in the structure of costs with the appearance of digital goods. Bearing in mind that these changes were deeply reflected both on the supply and demand side, in this paper, we have devoted special attention to the behavior of Generations Z and Alpha as consumers compared to other generations. We wanted to see, at least preliminarily, what kind of consumer profile is formed by the new generations born in the digital age and IV IR, that is, what kind of changes are occurring in the behavior of consumers of Generations Z and Alpha. We carried out research on their behavior on a sample of over 500 respondents.
Publisher
Centre for Evaluation in Education and Science (CEON/CEES)
Reference50 articles.
1. Acemoglu, D. (2009). The Neoclassical Growth Model. In Introduction to Modern Economic Growth pp. 287-326). Princeton: Princeton University Press. ISBN 978-0-691-13292-1;
2. Barro, R. J., & Sala-i-Martin, X. (2004). Growth Models with Consumer Optimization. In Economic Growth (Second ed.), pp. 85-142. New York: McGraw-Hill. 978-0-262-02553-9;
3. Brynjolfsson, E., Hitt, L. M., & Kim, H. H. (2011). Strength in numbers: How does data-driven decision-making affect firm performance (Working Paper, No. 1819486, SSRN). Retrieved from http://ssrn.com/abstract=1819486;
4. Brynjolfsson, E. (2017, January 30). AI and the Economy. Lecture at the Future of the Life Institute. Youtube. Retrieved from https://ide.mit.edu/insights/erik-brynjolfsson-ai-and-theeconomy/; https://www.youtube.com/watch?v=juxQKwTmGyo;
5. Brynjolfsson, E., Li, D., & Raymond, L. R. (2023). Generative AI at Work (NBER Working Paper No. 31161). National Bureau of Economic Research, Cambridge, Massachusetts, April 2023. Retrieved from http://www.nber.org/papers/w31161;