Information Rules

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Term Paper Title	Information Rules
# of Words	1191
# of Pages (250 words per page double spaced)	4.76

Information Rules

[Category]:

Business

[Paper Title]:

Information Rules

[Text]:

Information Rules

I. Chapter 1

In this book Carl Shapiro and Hal R. Varian provide an overview of the
competitive playing field of the network economy, and highlight the key economic
rules that govern it. They assert that one does not need a New Economics to
understand the New Economy: the basic economic principles needed to develop
business strategy remain the same. To understand the economics of information
technology one must look at economic issues involving both information and
technology. On the information side, Shapiro and Varian discuss: the cost of
producing information, how to manage intellectual property, information as an
experience good, and the economics of attention. On the technology side, they
introduce: systems competition, lock-in and switching costs, positive feedback,
network externalities, and standards. The chapter ends with a brief overview of
the policy issues concerning the Network Economy.

II. Chapter 2

To begin, it is asserted that information is costly to produce but cheap to
reproduce. The economic rule that parallels this theme states that while fixed
costs of production are large, variable costs of reproduction are small. This
chapter focuses on the special cost structure of information, and outlines
effective ways to sell an information good to identifiable markets. It discusses
how to develop a basic strategy based on what industry one operates in, and
illustrates how the unique characteristics of information markets offer new
opportunities to implement time-tested principles of competitive strategy.
Shapiro and Varian also examine strategies for customizing information by
personalizing your product, and by various means of personalized pricing.

III. Chapter 3

This next chapter examines ways to version information goods in order to make
them appeal to various market segments that will pay different prices for the
different versions. Strategies for versioning are illustrated with examples and
include: delay, user interface, convenience, speed of operation, flexibility of
use, and support. Shapiro and Varian also explore issues such as: how to avoid
common pitfalls in versioning, how to determine the number of versions to offer,
and the value to be gained from product bundling.

IV. Chapter 4

Thirdly, this book explores whether copyright law is hopelessly outdated.
Shapiro and Varian say no, and within this chapter demonstrate why...

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