Final Thesis: Free Economy

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Theoretische Arbeit in engl. Halte präsi auf deutsch Vorgehensweise: Literaturrecherche (UVA BiB, HPU ebrary, BEPress, RePeC)

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Final Thesis: Free Economy - Presentation Transcript

  1. AGENDA
    • Final Thesis
    • Free economy
    • Christian Dahlhausen
    • Prof. Dr. Rainer Clement
    • Prof. Dr. Dirk Schreiber
    Fachhochschule Bonn-Rhein-Sieg University of Applied Sciences   Fachbereich Informatik Department of Computer Science
  2. INTRODUCTION Picture: Anderson, Chris: http://www.longtail.com/the_long_tail/2008/02/wired-cover-sto.html [01.09.2008]
  3. Picture: Alex Mitrani (2007): http://flickr.com/photos/travellingslowly/479994983/ [15.09.2008]
    • Limited supply
    • Unlimited demand
    • Law of demand and supply
    • Market mechanism of coordination & ownership
    • Price takers vs. price makers
    Figure: Craven, John (1990): Introduction to Economics , p.61 TRADITIONAL ECONOMY Supply, Demand & Equilibrium
    • Choice under scarcity
    • Self interest vs max profit
    • Max Utility with limited budget
    • Substitute & Income effect influence demand
    Figure: Mankiw, N. Gregory and Taylor, Mark P. (2006): Microeconomics : Microeconomics, p.432 TRADITIONAL ECONOMY Consumer Behavior
  4. Picture: Donna Bogatin, (2007) CNET: http://blogs.zdnet.com/micro-markets/?p=154 [15.06.2008]
    • High first-copy costs (Fixed costs)
    • Low marginal costs
    • Declining infrastructure costs (processing, storage, bandwidth)
    • Economies of networks
    • Abundance rather than scarcity
      • Amazon: 2,3 Mio books
      • Bookshop: 40-100.000 books
    Figures: compiled by author, based on Stahler (2001): Geschaftsmodelle in der digitalen Okonomie, p.197 DIGITAL ECONOMY DIGITAL GOODS HAVE…
    • Network effects
    • Switching costs & lock-in
      • Durable purchases (e.g. printer)
      • Specialized suppliers (e.g. ERP software)
      • Search costs (e.g. cell phone plans)
      • Loyalty programs (e.g. Tesco, real, etc.)
    • System effects
    • Standards
    Figure: compiled by the author, based on Aufderheide, et al. (2006): Internet Okonomie, Wettbewerb und Hybriditat beiEssential Facilities, p.145 DIGITAL ECONOMY CHARACTERISTICS
  5. Illustration by Jeff Mermelstein
    • Over-supply
      • Increasing storage & processing capacity at decreasing costs
      • Unlimited “shelf-space” of digital businesses
    • Demand
      • Irrational behavior with free products
        • No cost-benefit analysis at zero price
        • Difficult to map utility
        • No-cost = no disadvantage
    • Power of competition
      • Webmail: Google & Yahoo
    • Critical mass crucial
    FREE ECONOMY CHARACTERISTICS
  6. Pictograms: Anderson, Chris (2008): FREE ECONOMY BUSINESS MODELS
  7. FREE ECONOMY BUSINESS MODELS
  8. CONCLUSION

+ Christian DahlhausenChristian Dahlhausen, 2 years ago

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