Management Information Systems a model of mis, Leading Research, and Research Trends
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- INDUSTRY EXPERIENCES
- RESEARCH INTERESTS
- KEY PUBLICATIONS
- Economics of Information
- Timeline
- Trend of Economics of Informatics in MIS
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lan G. Merten |
Scheduling, organizational information | 
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KEY PUBLICATIONS
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Economics of Information
Background
The application of economics in the MIS realm focuses on two primary areas of investigation: determining the value of information technology investments to organizations and examining the impact of technology on financial markets. Most Economics researchers in MIS have focused largely on the creation and evaluation of economic productivity, valuation methods, and transactions costs. Organizations invest in information systems in order to increase efficiency, quality and productivity, to provide vital information to organizational decision makers, and to gain measures of the success of business processes. By applying economic tools and theories, researchers attempt to assess these purported benefits of IT investments.
The nature of open financial markets depends on the availability of timely and pertinent information to investors. Economists study electronic markets and the impact of information on trade, pricing, and decision-making. As well, they examine indirect effects of technology such as bundling and pricing issues, switching costs, intellectual property rights, and the evolution of IT as an enabler of organizational change. As these fields are closely aligned, researchers tend to work in multiple areas, applying similar approaches to a number of different issues.
Timeline
Economics of Informatics is founded on fundamentals of economic theory, and is based in large part on Ronald Coase’s 1937 paper, “The Nature of the Firm,” which launched virtually all economic research that is applied to information technology. It first proposed the notion of “transactions costs” and illustrated the strategic importance of these costs to all firms, regardless of market environment. Most subsequent research in this field has its genesis in these concepts. Major events in Economics of Informatics are:
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1985 – Pricing of computer services (Mendelson, 1985) -
1988 – Switching costs and lock-in theories (Farrell and Shapiro, 1988) -
1993 – Productivity paradox of IT (Brynjolfsson, 1993) -
1999 – Bundling of information goods (Bakos and Brynjolfsson, 1999) -
1999 – Economics of global IT (King and Sethi, 1999)
Our thanks to Dr. Matt Thatcher of the University of Arizona Management Information Systems department for his review of the researchers in this domain.
Trend of Economics of Informatics in MIS
Economics of informatics is divided into five subfields: productivity, organization, investment, outsourcing, and patent. For each subfield, relevant keywords are defined and journal publications contain the keywords is counted for predefined five-year period: 1970-1974, 1975-1979, 1980-1984, 1985-1989, 1990-1994, 1995-1999, and 2000-2004. The publication count is divided by the total publication in the database during the same period so that the growth of academic as a whole is controlled properly.
From the publication share during the period of 2000 to 2004, we can see that the biggest subfield in economics of informatics is organization, which discusses the issue of how information technology impacts the structure of an organization. Investment, which discusses how to justify IT projects as investment to an organization, comes in the second. Productivity discusses how IT can help businesses or industry to improve their productivity. Productivity has similar publication share as investment. Outsourcing and patent issue are two subfields that have smallest share of publication. However, the share of outsourcing is steadily growing from 1985 while publication related to patent remains steady from 1980 to 2004.
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Time trend of publication force. Right panel is the time trend of five subfields: productivity, organization, investment, outsourcing, and patent. Left panel is the time trend for economics of informatics as a whole. | |
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