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consumers

consumers

Which Consumers Do Consumer Groups Represent?

Anytime the media covers an issue that might affect consumers, they ask so-called consumer groups for a quote as if these groups by definition represent consumer interests. Check that box. Case in point, a story in Saturday’s New York Times on Monsanto and Dupont Pioneer’s successful efforts to develop genetically modified soybeans that eliminate harmful trans-fats in soybean oil. The reporter argues that these new beans could help the image of the biotech industry because they are among first generation of GMOs that help consumers, rather than farmers.

What? So let me get this right. Past GMO efforts to reduce the costs of growing food (e.g. drought resistant seeds, seeds needing less pesticide application, etc.) don’t help consumers? It seems that the article is making the argument that anything that helps producers, by definition either doesn’t help consumers, or in fact harms them. In this framing, the implicit assumption is agriculture is a monopoly where all improvements in productivity are kept by the farmers, and not passed along to the consumers in the form of lower prices. Wow, did these people never study economics? Apparently not.

But this framing,
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Man bored in front of laptop

Do Consumers Care About Online Privacy Anymore?

According to the latest online search trends, concerns about Internet privacy are so 2004.

If this sounds incredible to you, let me explain.

First, some background. An individual’s search queries can reveal interesting information about their interests. When this data is amassed across many individuals, it can provide insights into consumers as a whole. Google is one of the first companies to make use of its large historical database of search engine queries to try to better understand consumers. Perhaps the most famous example of this is Google Flu Trends which uses both historical and real-time data to predict the level of influenza in the population across time.

Google has also made a version of its database of search queries available to the public in a product called Google Trends. Google Trends shows how many searches have been performed on a particular search term relative to the total number of searches. Individuals can use Google Trends to discover the relative popularity of search terms for a particular period of time or for a particular location. Google Trends does not show total search volume, but rather normalizes the data to

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