IDEAS home Printed from https://ideas.repec.org/a/ids/ijtisy/v1y2011i2p163-174.html

Innovation in virtual social networks: the widespread of new electronic currencies and the emergence of a new category of entrepreneurs

Author

Listed:
  • Olivier Hueber

Abstract

The internet network hosts an increasing number of large synthetic worlds. These virtual worlds exhibit most of the characters we associate with the real world like interpersonal relationships, economic transactions, production of goods and services, political institutions… Inside these synthetic worlds, new economic behaviours can be studied and new entrepreneurs emerge. By focusing on the widespread of new private electronic currencies, this paper shows first the main benefits for e-money users of entering in a community of payments. Second, the economic behaviour of electronic money (e-money) users and the network externalities effects are studied. Thirdly, the phenomenon of the emergence of a new category of entrepreneurs specialised in e-money creation and the regulation of a new monetary regime are exposed.

Suggested Citation

  • Olivier Hueber, 2011. "Innovation in virtual social networks: the widespread of new electronic currencies and the emergence of a new category of entrepreneurs," International Journal of Transitions and Innovation Systems, Inderscience Enterprises Ltd, vol. 1(2), pages 163-174.
    • Handle: RePEc:ids:ijtisy:v:1:y:2011:i:2:p:163-174
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=39623
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or

    for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. H. Leibenstein, 1950. "Bandwagon, Snob, and Veblen Effects in the Theory of Consumers' Demand," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 64(2), pages 183-207.
    2. Edward Castronova, "undated". "Virtual Worlds: A First-Hand Account of Market and Society on the Cyberian Frontier," Gruter Institute Working Papers on Law, Economics, and Evolutionary Biology 2-1-1008, Berkeley Electronic Press.
    3. Edward Castronova, 2003. "Theory of the Avatar," CESifo Working Paper Series 863, CESifo.
    4. Carol L. Clark, 2005. "Shopping without cash: the emergence of the e-purse," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 29(Q IV), pages 34-51.
    5. Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-131, March.
    6. Edward Castronova, 2001. "Virtual Worlds: A First-Hand Account of Market and Society on the Cyberian Frontier," CESifo Working Paper Series 618, CESifo.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jérôme Blanc, 2017. "Making Sense of the Plurality of Money : A Polanyian Attempt," Post-Print halshs-02023680, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Olivier Hueber, 2008. "Online communities of payments and consumer behaviour," Post-Print hal-00440942, HAL.
    2. Justin Rex & David J. Jackson, 2009. "Window of Opportunity? Internet Gambling in Canada," Canadian Public Policy, University of Toronto Press, vol. 35(1), pages 121-137, March.
    3. Karol Borowiecki & Juan Prieto-Rodriguez, 2015. "Video games playing: A substitute for cultural consumptions?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 39(3), pages 239-258, August.
    4. Edward Castronova, 2008. "A Test of the Law of Demand in a Virtual World: Exploring the Petri Dish Approach to Social Science," CESifo Working Paper Series 2355, CESifo.
    5. Ali Sunyaev & Niclas Kannengießer & Roman Beck & Horst Treiblmaier & Mary Lacity & Johann Kranz & Gilbert Fridgen & Ulli Spankowski & André Luckow, 2021. "Token Economy," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 63(4), pages 457-478, August.
    6. Michael L. Katz & Carl Shapiro, 1994. "Systems Competition and Network Effects," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 93-115, Spring.
    7. Borowiecki, Karol J. & Bakshi, Hasan, 2017. "Video games as cultural participation: understanding games playing in England using the Taking Part survey," Discussion Papers on Economics 5/2017, University of Southern Denmark, Department of Economics.
    8. Andrea Marchini & Chiara Riganelli & Francesco Diotallevi & Bianca Polenzani, 2021. "Label information and consumer behaviour: evidence on drinking milk sector," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 9(1), pages 1-24, December.
    9. Mak, Vincent & Zwick, Rami, 2010. "Investment decisions and coordination problems in a market with network externalities: An experimental study," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 759-773, December.
    10. Nathalie Lazaric & Jun Jin & Ali Douai & Cécile Ayerbe, 2014. "Role of Users in the Developing Eco-Innovation: Comparative case research in China and France," Post-Print halshs-01070168, HAL.
    11. Cordes, Christian & Schwesinger, Georg, 2014. "Technological diffusion and preference learning in the world of Homo sustinens: The challenges for politics," Ecological Economics, Elsevier, vol. 97(C), pages 191-200.
    12. Emanuela Randon, 2002. "L’analisi positiva dell’esternalità: rassegna della letteratura e nuovi spunti," Working Papers 58, University of Milano-Bicocca, Department of Economics, revised Jun 2002.
    13. Geoffrey Heal & Howard Kunreuther, 2010. "Social Reinforcement: Cascades, Entrapment, and Tipping," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 86-99, February.
    14. Sascha Fullbrunn & Katharina Richwien & Abdolkarim Sadrieh, 2011. "Trust and Trustworthiness in Anonymous Virtual Worlds," Journal of Media Economics, Taylor & Francis Journals, vol. 24(1), pages 48-63.
    15. Takahashi, Takuma & Namiki, Fujio, 2003. "Three attempts at "de-Wintelization": Japan's TRON project, the US government's suits against Wintel, and the entry of Java and Linux," Research Policy, Elsevier, vol. 32(9), pages 1589-1606, October.
    16. Edward Castronova, 2003. "The Price of "Man" and "Woman": A Hedonic Pricing Model of Avatar Attributes in a Synthetic World," CESifo Working Paper Series 957, CESifo.
    17. Qiu-Hong Wang & Viktor Mayer-Schönberger & Xue Yang, 2013. "The determinants of monetary value of virtual goods: An empirical study for a cross-section of MMORPGs," Information Systems Frontiers, Springer, vol. 15(3), pages 481-495, July.
    18. Michael Morrison & Matías Fontenla, 2013. "Price convergence in an online virtual world," Empirical Economics, Springer, vol. 44(3), pages 1053-1064, June.
    19. Nenad Živić & Igor Andjelković & Tolga Özden & Milovan Dekić & Edward Castronova, 2017. "Results of a massive experiment on virtual currency endowments and money demand," PLOS ONE, Public Library of Science, vol. 12(10), pages 1-14, October.
    20. Roman Beck & Daniel Beimborn & Tim Weitzel & Wolfgang König, 2008. "Network effects as drivers of individual technology adoption: Analyzing adoption and diffusion of mobile communication services," Information Systems Frontiers, Springer, vol. 10(4), pages 415-429, September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijtisy:v:1:y:2011:i:2:p:163-174. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=160 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.