Thus, it could be said that the ability to “pioneer” I mentioned earlier requires economic actors capable of tapping potential demand and a nation that provides an institutional environment encouraging the production of valuable goods and services through free market competition.
(2018), “The responses of internet retail prices to aggregate shocks: A high-frequency approach,” Economics Letters, Vol. 164(C), pp. 124–127. 13 In Cavallo, A. (2017), “Are online and offline prices similar? Evidence from large multi-channel retailers”,  American Economic Review, Vol. 107(1), pp. 283–303, the author finds price levels are identical around 72% of the time. 14 Gorodnichenko, Y.