Frank Tietze delivers an in-depth discussion of the impact of empirical results upon transaction cost theory, and in so doing, provides the means for better understanding technology transaction processes in general, and auctions in particular. Substantiating transaction cost theory with empirical auction data, the author goes on to explore how governance structures need to be designed for effective distributed innovation processes. He concludes that the auction mechanism is a viable transaction model, and illustrates that the auction design, as currently operated by market intermediaries, requires thorough adjustments. Various options for possible improvements are subsequently prescribed.
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Auctions, Intermediaries and Innovation
Disrupting Networks from Below
Edited by Tineke M. Egyedi and Donna C. Mehos
The notion of inverse infrastructures – that is, bottom-up, user-driven, self-organizing networks – gives us a fresh perspective on the omnipresent infrastructure systems that support our economy and structure our way of living. This fascinating book considers the emergence of inverse infrastructures as a new phenomenon that will have a vast impact on consumers, industry and policy. Using a wide range of theories, from institutional economics to complex adaptive systems, it explores the mechanisms and incentives for the rise of these alternatives to large-scale infrastructures and points to their potential disruptive effect on conventional markets and governance models.
Edited by Gerald R. Faulhaber, Gary Madden and Jeffrey Petchey
Digital markets worldwide are in rapid flux. The Internet and World Wide Web have traditionally evolved in a largely deregulated environment, but recently governments have shown great interest in this rapidly developing sector and are imposing regulations for a variety of reasons that are changing the shape of these industries. This book explores why the industrial organization of broadband ISPs, Internet backbone providers and content/application providers are in such turmoil.