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RAS PresidiumОбщественные науки и современность Obshchestvennye nauki i sovremennost

  • ISSN (Print) 0869-0499
  • ISSN (Online) 2712-9101

Microeconomics of the 21st Century: New Challenges in Fundamental Analysis

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PII
S27129101S0869049925040063-1
DOI
10.7868/S2712910125040063
Publication type
Article
Status
Published
Authors
Nadezhda Rozanova
  • Affiliation:
    Moscow School of Economics, Lomonosov Moscow State University (MSU)
    Moscow State Institute of International Relations (MGIMO)
Volume/ Edition
Volume / Issue number 4
Pages
77-90
Abstract
Changes in economic reality have led to new theories in the area of the microlevel market decision making mechanism. The key trends in research that deals with microeconomics are demonstrated, to show in what aspects contemporary microeconomics reflects new conditions of the 21st century. With the help of the analysis of the current academic publications in microeconomics the behaviour aspects of the main economic agents have been clarified. New approaches and new ideas in current microeconomic investigations have been generalized. As far as consumers are concerned, new understanding has been developed in the area of rationality, utility satisfaction instead of utility maximization, new models of intertemporal choice with intertemporal transaction costs, attention and cognitive resources as new individual constraints. As for firms, new characteristics of business units have been shown in forms of digital ecosystems that blur the line between a firm and a market, different markets and industries. As a result, a classical well-structured firm has been giving way to a flexible digital division. New aspects have become inherent features of market interactions, price strategies and competition under information asymmetry. Digital economy allows to mitigate agents’ asymmetry in many dimensions through making information public, but at the same time digitalization creates barriers to optimal decision-making, e.g. non-adequate expert consultations, imprudently copying other’s social experience and rush herd behavior in networks.
Keywords
микроэкономика поведение потребителя теория фирмы неопределенность риск информационная асимметрия
Date of publication
11.07.2025
Year of publication
2025
Number of purchasers
0
Views
77

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