Monograph Chapter
In The Technology, Business, and Economics of Streaming Video
Eli Noam
- Published:
- 28 January 2021
The Technology, Business, and Economics of Streaming Video
The Next Generation of Media Emerges
Eli Noam
Monograph Chapter
In The Content, Impact, and Regulation of Streaming Video
Eli Noam
- Published:
- 15 January 2021
The Content, Impact, and Regulation of Streaming Video
The Next Generation of Media Emerges
Eli Noam
Eli Noam
In this chapter, we discuss the issue of market power in the online video field, which is arguably the most troubling aspect of this emerging online video system. We analyze the options of dealing with market power of online video platforms. They include the delegation of regulation to the industry; regulation as a public utility; provision by a public enterprise; licensing and registration; ownership restrictions; limits to foreign ownership and provision; antitrust breakup, functional separations, and unbundling; and interconnection. We concluded with a recommended “Open Video System” based on access rights to infrastructure and platform elements, where significant media market power (SMMP) exist. Such access would be accomplished through API software interfaces that must be offered by such platforms. (APIs), a way to let software by other parties interoperate with the platform’s software. Conditions of access would be governed by the non-discriminatory principle of “most favored nation,” subject to arbitration by a self-administrative process. A key role would be played by the personal information management curators. They would engage, in the consumer’s behalf, in the finding, selecting, and screening of appropriate content and infrastructure, as well as in the protection of personal data, They would be able to supply their own algorithms. Such an Open Video System does not solve all policy problems, and it needs to be limited when it comes to content or data. But it reduces the problem of market power of the platforms and its global extension. It will create, without breakups, a more competitive video cloud market. In doing so it reduces the need for detailed governmental control and oversight.
Monograph Chapter
In The Content, Impact, and Regulation of Streaming Video
Eli Noam
- Published:
- 15 January 2021
Luigino Bruni, Bruni De Rosa and Alessandra Smerilli
The modern approach to the economics of happiness can be reconduced to the impressive work known as the ‘Easterlin paradox’. At the beginning of the seventies the economist Richard Easterlin observed that, even though within each country higher incomes were associated with higher levels of happiness, in a country over time average levels of happiness do not increase as the average income increases. In other words, the very rich are happier than the very poor, but as the country gets richer happiness remains almost constant. The evidence was first proposed in his original work for the US during the period 1946–70 (Easterlin 1974) and then during the period 1972 to 2002 (Easterlin 2005) when the gross domestic product (GDP) in the United States almost doubled while happiness remained constant. In a more recent paper (Easterlin 2015) the author confirmed the validity of the paradox using US data in the period 1972–2014. This evidence suggests that, beyond a certain income level required to meet basic needs, the so-called subsistence level, additional income doesn’t lead to additional happiness. Individual wellbeing is made of a broader set of factors (health, relations, life sense), other than pure income, which need to be accounted for in order to define a worthwhile life. Indeed, it is worth remarking that, in a modern sense, the economics of happiness can no longer be confined to the evaluation of subjective or psychological wellbeing, but also has to encompass the whole intellectual and political movement known as going beyond GDP and its implications in terms of the measurement and analysis of quality of life (QoL).
Monograph Chapter
In A Modern Guide to the Economics of Happiness
Edited by Luigino Bruni, Alessandra Smerilli and Dalila De Rosa
- Published:
- 15 January 2021
Edited by Luigino Bruni, Alessandra Smerilli and Dalila De Rosa
Eli Noam
This chapter summarizes several of the analyses and empirical findings from other chapters: economic and technological drivers of change, new types of content, the emergence of video cloud providers, their market power, and their impact on other media industries and on society. This leads to a number of business and policy strategies, and to a recommended access arrangement.
Monograph Chapter
In The Content, Impact, and Regulation of Streaming Video
Eli Noam
- Published:
- 15 January 2021
Edited by Milan Zafirovski
