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The fake economy: the truth is out there


Stepanova T.E., Manokhina N.V.
(about the authors)

Stepanova Tatiana Evgenevna – (Kaliningrad State Technical University)

Manokhina Nadezhda Vasilevna – (Saratov Socio-Economic Institute of Plekhanov Russian University of Economics)

Published in:
Creative Economy
– Volume 13, Number 3 (March 2019)

JEL classification: D80, D82, D83, D89

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


Citation:
Stepanova T.E., Manokhina N.V. (2019). The fake economy: the truth is out there. Creative Economy, 13(3), 433-448. doi: 10.18334/ce.13.3.40101


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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.








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