Discussion
Read the articles:
1) Measuring consumer surplus online.
https://www.economist.com/blogs/freeexchange/2013/03/technology-2
2) Net benefits.
https://www.economist.com/news/finance-and-economics/21573091-how-quantify-gains-internet-has-brought-consumers-net-benefits
3) Worstall, Tim. "We're Still Measuring The Digital Economy All Wrong: No Way Is Facebook Worth $10 Per User." Forbes. Forbes, November 5th, 2015.
https://www.forbes.com/sites/timworstall/2015/11/05/were-still-measuring-the-digital-economy-all-wrong-no-way-is-facebook-worth-10-per-user/#7b5edd123671
You are expected to make your own contribution in a main topic as well as respond with value-added comments to at least two of your classmates. You are encouraged to respond to other students as well as to your instructor.
Choose one question to answer:
1) Explain the challenges in measuring consumer surplus of a free product like major online applications, such as Facebook and Google Search.
2) Explain how to quantify the gains that the internet has brought to consumers.