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This article provides a systematic review of the theoretical approaches to studying the digital economy and analyzes the transformation of traditional economic models under the influence of digitalization. The research focuses on the evolution of the digital economy concept from a narrow technological understanding to a comprehensive systemic transformation rooted in data, network effects, and platform business models. A classification of key theoretical frameworks (technological determinism, institutional, evolutionary, and network approaches) is presented. The paper analyzes shifts in fundamental economic concepts of market, competition (the "winner-takes-all" dynamic), and value, as well as the transformation of organizational structures (the shift from linear value chains to ecosystems). New economic phenomena and challenges are separately examined, including market power concentration, the need for ex ante regulation (e.g., DMA), data privacy issues (GDPR), and rising digital inequality.
digital economy, digital transformation, platform business models, network effects, data economy, antitrust regulation, GDPR, DMA, theoretical review
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