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Experience Economy
Experience economy can be defined as the economic value of experiencing. An experience is a mental phenomenon—a psychological process people can have that leaves significant memories. Experiencing is often connected to the purchase of goods, services, or pure experience products such as culture, sports, or dating on the Internet. More specifically, the experience economy can be defined as the value of pure experience products and the value of that part of goods and service consumption that is connected to the experience. The experience economy is both used as a business concept—the extra economic value that elements of experience create in market transactions (consuming products)—and as a macroeconomic concept, namely, the part of the national economy (e.g., gross national product) that experience activities create. The experience ...
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