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on Network Economics |
| By: | Batiz-Lazo, Bernardo |
| Abstract: | Through archival research we investigate the impact of the introduction of Automated Teller Machines (ATM) in British retail banking. Contrary to the experience in the US, in the UK the ATM has been largely neglected by historians and management scholars. Technologically, cash dispensers preceded ATM and were originally a British innovation but U.S. (e.g. IBM and NCR) and German manufacturers (e.g. Siemens) took the lead as the ATM became a global technology. The evolution of the ATM illustrates how banks adopted on-line, real-time computing for the entire branch network and highlights the role of network externalities in financial markets. From a business history perspective, the ATM epitomises a shift in bank strategy, namely how applications of computer technology moved from being potential sources of competitive advantage to being a minimum requirement for effective competition in retail finance. Research in this article traces the origins of this process of competitive change in British retail financial markets, by looking at the emergence of proprietary networks and their evolution into a single national network at the same time that cash dispensers transformed into ATM. |
| Keywords: | Automated Teller Machines; UK; clearing banks; network effects |
| JEL: | O33 N24 |
| Date: | 2007–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:3689&r=net |
| By: | Benchimol, Guy |
| Abstract: | In the present world, change has become a necessity for any organization. This change may be the consequence of evolution of technology, market needs or users behaviour as well as, of course,environment (legal, geopolitical,climatic,cultural and so on); it imposes innovations into numerous fields such as products and services,processes and business models. To accomplish such innovations, knowledge management is a must from the front-end of the value chain until its concrete form that is from basic research to practical requirements. This strategic approach may be carried out through a "Project" state of mind and collaborative work for which KM provides the necessary tools. |
| Keywords: | knowledge; innovation; Real Time Marketing; networks; democratic corporation; participative innovation; K-Maps; human capital; basic research; thought leaders; Fuzzy Front End |
| JEL: | L21 |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:3725&r=net |
| By: | Kevin Mellet |
| Abstract: | Two factors play a decisive role in the structuring of Internet based markets for infomediation (informational intermediation) : network externalities and information processing. First, these are examined separately. The two-sided markets literature focuses on the impact of network externalities in a context of competition among 2-sided platforms. It explains the level of concentrationfragmentation of those markets, and explores its welfare implications. We shall call this model the "horizontal" model of structuring. Symetrically, a "vertical" process of division of labour among the infomediaries' value chain is observed. It results of the complexification of intermediation in a context of strong quality uncertainty and high codification investments. Intermediaries specialize and develop cooperative relationships with each others. Secondly, the paper examines the implications of the simultaneous co-existence of H and D dynamics on the structuring of the market for infomediation. This co-existence generates frictions. Two levels of frictions are distinguished : i) market governance (standards and certifications) ; ii) commercial interactions (the so-called 'coopetition'). Empirical illustrations are taken from the analysis of Internet based labour market intermediaries. |
| Keywords: | Two-sided markets; competition; vertical specialization; regulation; coopetition; labour market intermediaries. |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2007-13&r=net |
| By: | Schulze, Max Stephan; Wolf, Nikolaus |
| Abstract: | This paper examines the emergence and dynamics of border effects over time. We exploit the unique historical setting of the multinational Habsburg Empire prior to the Great War to explore the hypothesis that border effects emerged as a result of persistent trade effects of ethno-linguistic networks within an overall integrating economy. While markets tended to integrate, the process was strongly asymmetric and shaped by a simultaneous rise in national consciousness and organisation among Austria-Hungary’s different ‘nationalities’. We find that the political borders which separated the empire’s successor states after the First World War became visible in the price dynamics of grain markets already 25-30 years before the First World War. This effect of a ‘border before a border’ cannot be explained by factors such as physical geography, changes in infrastructure or patterns of asymmetric integration with neighbouring regions outside of the Habsburg customs and monetary union. However, controlling for the changing ethno-linguistic composition of the population across the regional capital cities of the empire does explain most of the estimated border effects. |
| Keywords: | border effects; Habsburg Empire; market integration; networks; pre-1914 Europe |
| JEL: | F15 N13 Z13 |
| Date: | 2007–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:6327&r=net |