The information revolution currently underway has changed the economy in ways that are hard to measure using conventional GDP procedures. The information available to consumers has increased dramatically as a result of the Internet and its applications, and new mobile communication devices have...

We examine economic activity in a large virtual economy which was designed to allow decentralized barter as the sole exchange institution. We find that a small subset of goods emerges endogenously which act of media of exchange. Our analysis includes estimation of spot exchange rates between...

Small and medium-sized enterprises (SMEs) play an important role in the development of the economy and contribute significantly to ensure sustainability, economic growth and wealth of nation. A strong and well-developed SME sector contributes significantly to innovation, exports and the creation...