Year: 2024
Type: article
Abstract: Current research on the pricing of knowledge products often focuses on those as consumer goods, with insufficient attention to skill-based knowledge products, which serve as intermediate goods and do not directly contribute to consumer utility. Within the scope of this study, a specific type of skill-based knowledge serves as a prerequisite for producing related consumer goods. Skill-based knowledge products can be provided by individuals possessing such knowledge, allowing those originally lacking this production skill to acquire it by purchasing the relevant knowledge product, thus enabling a shift in their specialized production. This paper explores the price determination of these skill-based knowledge products within the context of division of labor and general equilibrium, incorporating factors such as consumer preferences, transaction efficiency, time costs of learning, and intermediary fees in knowledge transactions.
Author: Hanyang Liu
Institution: Hunan University
Language: English
Topic: Economic theories and models
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405590607