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In economics, a network effect (also called network externality or demand-side economies of scale) ... An example of a direct network effect is the telephone ...
For example, when it comes to network products, like social media platforms or communication networks, the more people use the technology or engage in it, the more valuable the product becomes. Consequently, early adopters could gain financially from positive pecuniary externalities such as enhanced network effects or greater resale prices of ...
Metcalfe's law characterizes many of the network effects of communication technologies and networks such as the Internet, social networking and the World Wide Web.Former Chairman of the U.S. Federal Communications Commission Reed Hundt said that this law gives the most understanding to the workings of the present-day Internet. [3]
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]
The distance-based utility model is an example of positive externalities, since players can only get more benefits when other players increase their number of connections. On the other hand, a model that faces players with negative externalities is the so-called “Co-Author model” presented by Jackson and Wolinsky in the paper of 1996.
A sicko from New Jersey allegedly took part in a neo-Nazi child-porn ring whose members groomed children online and extorted them to send self-produced, sexually-explicit videos, federal ...
You may have heard that Social Security is facing financial trouble because Congress and presidents raided the trust funds and wondered how such a thing could be allowed to happen.
In economics, an externality is a cost or benefit that affects a party who did not choose to incur that cost or benefit. [35] [36] Negative externalities are a well-known feature of the "tragedy of the commons". For example, driving cars has many negative externalities; these include pollution, carbon emissions, and traffic