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Economics of networks is a discipline in the fields of economics and network sciences. It is primarily concerned with the understanding of economic phenomena by using network concepts and the tools of network science. Prominent authors in the field include Sanjeev Goyal, Matthew O. Jackson, and Rachel Kranton. [1] [2] [3]
Network economics refers to business economics that benefit from the network effect. This is when the value of a good or service increases when others buy the same good or service. Examples are website such as EBay, or iVillage where the community comes together and shares thoughts to help the website become a better business organization.
Rifkin (2000) proposes that as markets make way for networks, ownership is being replaced by access rights because ownership becomes increasingly marginal to business success and economic progress. Notable examples of the network economy model include the arms trafficking and the illegal drug trade. Merchants participating in those markets ...
New trade theory (NTT) is a collection of economic models in international trade theory which focuses on the role of increasing returns to scale and network effects, which were originally developed in the late 1970s and early 1980s.
The forms of cultural productions — music is an example Benkler uses frequently — are either rival or nonrival.Rival products decrease as they are used (e.g. pounds of flour), the use of nonrival products (e.g. listening to a song) does not decrease their availability for further use.
A good in economics is any object, service or right that increases utility, directly or indirectly. A good that cannot be used by consumers directly, such as an "office building" or "capital equipment", can also be referred to as a good as an indirect source of utility through resale value or as a source of income.
Club goods (also artificially scarce goods, toll goods, collective goods or quasi-public goods) are a type of good in economics, [1] sometimes classified as a subtype of public goods that are excludable but non-rivalrous, at least until reaching a point where congestion occurs. Often these goods exhibit high excludability, but at the same time ...
Information economics or the economics of information is the branch of microeconomics that studies how information and information systems affect an economy and economic decisions. [ 1 ] One application considers information embodied in certain types of commodities that are "expensive to produce but cheap to reproduce."