- Course Meeting Times
- Books by Liebowitz
- The Long Tail - Econlib
- The Digital Decade’s Definitive Reading List: Internet & Info-Tech Policy Books of the 2000s
- Pages in category "Books"
Liquidity is presumed to increase as things get larger, but things are more complicated than that. Where exchanges are inefficient at serving a sub-community, e. One leading online exchange, e-Bay, seems to dominate person-to-person goods transactions. In Europe, one leading betting exchange seems to dominate, Betfair. But before we get too carried away with assuming that online communities will follow the Highlander strategy from the film of the same name , i.
Almost all long-term exchanges have been mutuals or had strong elements of mutuality.
Course Meeting Times
The value of an exchange derives from its members and it is only fair to recognise this. You may provide a fantastic online software package for an online community, but without the contribution of each of the community members it is worthless.
Mutuality is not clear-cut. Recently, a number of exchanges have de-mutualised. On the other hand, most exchanges remain mutuals and many de-mutualised exchanges are controlled by the larger members holding shares, i. It might be interesting to speculate on the future of e-Bay, particularly when compared with Craigslist. Our point is that members give both networks value, and will not permit all of the value to be captured by a commercial entity.
When valuing an exchange as a commercial entity, for instance the London Stock Exchange has recently had several offers, it is tempting that to say that the value is nearly infinite, because people have nowhere else to go, in this case for large UK equities. The members do have alternatives, in UK equities several, and will place their business elsewhere just to prevent being dominated. In foreign exchange, leading banks teamed up to create EBS just to ensure that Reuters did not dominate the forex markets.
Carson, Kevin BookSurge Publishing. Carlsson, Chris AK Press.
Books by Liebowitz
Chopra, Samir , Dexter, Scott D. Phyles: Economic Democracy in the Network Century. Las Indias self-published. Van Abel, Bas et al. BIS Publishers. Federici, Silvia Brooklyn: Autonomedia. Hill, Christopher Kennedy, Geoff Lexington Books.
The Long Tail - Econlib
Linebaugh, Peter University of California Press. Linebaugh, Peter and Rediker, Marcus Boston: Beacon Press. Mitchel, John H. Perseus Books. Neeson, J. Price, Richard , editor.
The Digital Decade’s Definitive Reading List: Internet & Info-Tech Policy Books of the 2000s
The Johns Hopkins University Press. Brafman, Ori and Beckstrom, Rod A. Portfolio Trade. Bygrave, Lee A. Internet Governance: Infrastructure and Institutions. Oxford University Press. Goldsmith, Jack and Wu, Tim Wu. Who Controls the Internet? Illusions of a Borderless World.
Carnegie Endowment for International Peace. Mueller, Milton L Mulholland, Andy et al. Evolved Technologist Press. Spinello, Richard A Thierer, Adam D. Who Rules the Net? Cato Institute.
Bollier, David Viral Spiral. New Press. Borsook, Paulina Castells, Manuel. Feld, Lowell and Wilcox, Nate Netroots Rising.
How a citizen army of bloggers and online activists is changing American politics. Kelly, Christopher Two Bits, on the strategy of Recursive Publics. Duke University Press Books. Kleiner, Dmytri The Telekommunist Manifesto. Dmytri Kleiner. Institute for Network Cultures. Nunziato, Dawn C. Stanford Law Books. Trippi, Joe Harper Paperbacks. Jobs community site Monster.
What do these communities have in common? They are all search communities; people visit not simply to chat, but to find something customers, soul mate, employer, employee. People are willing to pay for search. Some search communities also enjoy powerful network effects and the larger they are, the more valuable they become.
Pages in category "Books"
At Ecademy, after private messaging, the most frequently invoked online functions are tasks relating to search and the most frequently requested enhancements from members are related to search. The opportunities for marketing to online communities are significant. Value exchange beyond just finding each other must exist to keep these communities alive. Stan Liebowitz 2 points out that basic economics still applies online. For instance, drawing on the ten categorisations used by Sarkar, Butler and Steinfield in their paper on Cybermediaries, 3 online social network functions can be linked to numerous traditional models, as follows:.
We submit that the most appropriate traditional model for the economic valuation of online communities is a traditional financial exchange; the London or New York stock exchanges would be good examples. Obviously, concepts from the world of financial exchanges can be applied to online communities:.
People often focus on the scale of exchanges as the most crucial point. Liquidity is presumed to increase as things get larger, but things are more complicated than that. Where exchanges are inefficient at serving a sub-community, e. One leading online exchange, e-Bay, seems to dominate person-to-person goods transactions.