Thematic Area of product / prototype / service:
Economics of AT information : developing a vibrant consumer driven AT market
Company (if applicable):
Assistive Technology Australia
Description of the product/Prototype/service:
The economic affect of information asymmetry is well known across a rage of goods and service areas. Reducing information asymmetry is essential in the development of consumer markets and in the prevention of market failures. The Australian national and state governments have been referring to the need to reduce information asymmetry in AT since 2104, including in the National Disability Insurance Schemes AT Policy, published in 2015. However, the absence of evidence and poor understanding managing this issue has become problematic, with the closure of several state based AT information services in Australia. During 2021, AT Australia engaged the Health and Economics faculties of the University of Canberra to undertake literature reviews on the topic. In the absense of literature on information asymmetry in AT, an economic analysis of the AT Australia model was undertaken. This presentation will focus on this project, the results and recommendations from the project.
Level of innovation:
Economic analysis of any area of AT is imperative and developing, but the focus is usually on the important cost benefit analysis. This work focusses on one economic imperative in developing and maintaining the AT marketplace. In AT, this is a new area of thought and requires further academic research and analysis.
Robyn Chapman CEO, Assistive Technology Australia