The fake economy: the truth is out there

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Journal paper

Creative Economy ^{(РИНЦ, ВАК)}
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Volume 13, Number 3 (March 2019)

Citation:

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=37242405
Cited: 1 by 26.03.2022

Abstract:
The article reveals the phenomenon of modern economy, which is called fake economy of deliberate deception. The authors, recognizing the legitimacy of this approach and investigating the fake industry as a real sector of the economy, justify their own scientific position and consider the fake economy as an economy of unintentional distortion, this is another, its deeper side, due to objective reasons and factors - information asymmetry, the dominant feature of the Internet as a source of data in the modern world, the exponential increase in information and its heterogeneous dispersion between different subjects, the asymmetry of knowledge and the limitations and differentiation of cognitive abilities of subjects. As a forecast, the authors consider the expansion of the fake economy, as it is beneficial to certain entities in all countries, including Russia.

Keywords: information asymmetry, fake industry, fake, fake economy, asymmetry of knowledge

JEL-classification: D83, D80, D82, D89

References:

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