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Date Created: 12/21/15
Payment and Registration for college online payment The close of the article discusses directions for future research, covering some of the new policy questions that e-business raises for the economy. Throughout, the emphasis remains on the microeconomic effects of e-business. Information is the key component of the modern economy. Viewed through the lens of cost reduction, transformations of the production process enabled by e-business such as outsourcing, electronic procurement, and online payment for college trading not only make sense but also become predictable. Similarly, given the importance of information in search and matching markets such as consumer purchasing and the labor market, the advent of electronic intermediaries such as auction sites and online resume exchanges makes sense. Wherever the costs involved with transacting information are high, the gains from adopting e- business practices are highest and the market will naturally implement ICT there first. Reduced informational costs cannot only facilitate given transactions, but can expand the set of transactions included within a specific market. By lowering the costs of bringing together geographically distant buyers and sellers, e-business increases the size of any given market. Larger markets make the trade of goods and services more reliable and efficient, in part because bigger markets often have lower average costs associated with them. However, the aggregation of information in larger markets is beneficial in its own right, especially compared to the bilateral negotiation between economic agents that e-business may replace. The inefficiency of bilateral negotiation that some mutually beneficial trades may not occur is due to the asymmetric information (e.g., on the reservation prices) held by the parties. Thicker markets mitigate such inefficiencies .B2C e-commerce over the Internet has grown steadily since its inception in the 1990's. Official estimates in the US peg e-commerce at $135 billion in 2008, which is 3.4 percent of total retail sales (US Dept. of Commerce, 2009.B2C interactions allow better matching of consumers to products and services. Search tools for buyers, retail auction sites such as eBay, and on-line brand communities all lower the consumer's cost of searching for goods and prices. With a lower search cost, consumers search more and obtain a better match. On the seller's side, e-commerce allows the collection of more information about college online payment customers than is provided by "old economy" retail channels. Such information is valuable for firms, allowing them to push tailored marketing messages to consumers based on past behavior and offer mass customization of their product lines (e.g., Dell's system of allowing buyers to choose features of their computers)
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