|
on Payment Systems and Financial Technology |
| By: | Kongaut, Chatchai; Lis, Piotr |
| Abstract: | Mobile payment services are experiencing the fastest growth compared to other payment methods, mainly due to the ever-increasing popularity of smartphones in recent years. Even though the technology has been available for more than a decade, mobile payment has been adopted into widespread usage only in some countries, including Japan, South Korea, Kenya and the Philippines. Nonetheless, other parts of the world appear to be catching up fast and it is important for both public and private sectors to understand the determinants of mobile payment adoption. This study investigates the drivers of mobile payment adoption in the past decade through comparative studies of both developed and developing countries. Conceptual frameworks, including the network effects and broadband ecosystem, are also applied to support the analysis offered in this paper. Moreover, this study explores the similarities and differences between the above mentioned countries and why they have been more successful in adopting the mobile payment technology compared to other states, such as the US and European countries. The key finding is that a successful and widespread adoption of mobile payment requires strongly growing demand and ready availability of infrastructure and technology on the supply side. The rapidly growing popularity of smartphones fueled the demand side by making the new payment technology reachable by large groups of consumers. Nevertheless, the use of mobile payment could not be significantly increased without an introduction of killer applications in each country or region. This is where the regulators in both financial and telecommunication sectors play a crucial role. A good combination of regulation and/or policy on the supply and demand sides is a way forward. |
| Keywords: | mobile payment,broadband ecosystem,adoption |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169474&r=pay |
| By: | Choia, Goya; Nam, Changi; Kim, Seongcheol |
| Abstract: | With the development of information and communication technologies and the emergence of the Internet of things, the open-platform strategy has come into the spotlight. Opening a platform allows external firms or individuals to enter the platform ecosystem without any restriction. Even though a platform connects diverse products and services, previous studies have focused on the bilateral relationship between a platform and a single group of product or service. This research investigates platform openness to multiple groups of products and services in an ecosystem simultaneously; research has especially focused on how the openness of the Android platform to both applications and devices influences application developers’ intention to continuously participate. First, openness to applications influences not only the participation intention of application developers directly but also the user base of the platform and competition among developers. An increased user base leads to an enhanced participation intention of developers through indirect network effects, while intense competition does not have a significant effect on intention. Second, openness to devices also influences the participation intention of application developers indirectly. Openness to devices contributes to enlargement of the user base which positively influences the intention of application developers. Openness to device also incurs coordination costs between applications and devices, which have a partially negative effect on the participation of application developers. In this paper, we propose a comprehensive model that explains the impact of platform openness on application developers in order to offer a deeper understanding of the mechanisms of platform openness. |
| Keywords: | Platform openness,Platform ecosystem,Android,Expectation-confirmation model |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169455&r=pay |
| By: | Esselaar, Steve; Song, Steve; Stork, Christoph |
| Abstract: | This paper analyses a business model for providing free basic-rate Internet to everyone with a data capable phone, living in mobile coverage areas. The model is called Freemium Internet. The term "freemium" refers to a well-known business model for digital services, where free services or applications provide basic functions and more advanced functions are available by paying a fee. We examine the impact of applying the freemium business model to the provision of mobile Internet access and discuss net neutrality issues, mobile operator strategies, benefits for consumers, and the potential impact on government e-service programmes. The paper further investigates policy options and regulatory incentives to facilitate the adoption of Freemium Internet. |
| Keywords: | Universal Service,Next Billion,business models |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169459&r=pay |
| By: | Osea Giuntella |
| Abstract: | The spread of high-speed Internet epitomizes the digital revolution, affecting several aspectsof our life. Using German panel data, we test whether the availability of broadbandInternet influences fertility choices in a low-fertility setting, which is well-known for the difficultyto combine work and family life. We exploit a strategy devised by Falck et al. (2014) toobtain causal estimates of the impact of broadband on fertility. We find positive effects of highspeedInternet availability on the fertility of high-educated women aged 25 and above. Effectsare not statistically significant both for men, low-educated women, and under 25. We alsoshow that broadband access significantly increases the share of women reporting teleworkingor part-time working. Furthermore, we find positive effects on time spent with children andoverall life satisfaction. Our findings are consistent with the hypothesis that high-speed Internetallows high-educated women to conciliate career and motherhood, which may promotefertility with a “digital divide†. At the same time, higher access to information on the risksand costs of early pregnancy and childbearing may explain the negative effects on youngeradults. |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:pit:wpaper:6266&r=pay |
| By: | Arnold, René; Schneider, Anna |
| Abstract: | Mobile Messaging Apps (MMAs) such as WhatsApp, Facebook Messenger, LINE, Signal or Snapchat are used by many consumers next to the traditional electronic communication services (ECS) SMS texting and phone calls. While with ECS the idea of full end-to-end interoperability is one of the key features, initial research (28 qualitative interviews) conducted by us indicate that consumers use different MMAs to negotiate their social ties. In this paper, we extend this research with an analysis of the functionalities of 139 MMAs and 20 in-depth interviews focusing on how consumers use individual services to manage stages of intimacy in relationships, communicate a message’s urgency, or craft social messages. We find that the technological seams between various MMAs indeed fulfil important functions as they enable consumers to mediate competence, relatedness and autonomy as defined in Deci and Ryan’s Self-Determination Theory (SDT). Furthermore, the paper shows how the choice of MMA reflects different stages of relationship development. Finally, we show that consumers also rely on technological seams between MMAs to feel autonomous and competent in their social interactions as the choice of MMA and functionality according to the specificities of the situation adheres to a finely grained social code. For policy makers and regulators, our results indicate that imposing interoperability obligations on MMAs is likely to reduce consumers’ well-being given the importance of technological seams to enact self-determination. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169444&r=pay |
| By: | Papai, Zoltan; Nagy, Peter; Papp, Bertalan |
| Abstract: | Cross-country price comparison is a useful, but often deceptive exercise. The paper addresses the underlying methodological challenges, offering a practicable solution, which is both sound enough and meaningful for the comparison of mobile broadband prices on different markets. Both the simple comparisons and the econometric analysis give valuable insights into how the structural characteristics and also other factors are associated with the price-differences between national mobile markets of the European Union. The result suggests that the presence of a challenger player on the market is important to have lower prices and wider choice of options on the market. This factor seems more important than the mere number of the players. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169492&r=pay |
| By: | Farley Grubb (Department of Economics, University of Delaware) |
| Abstract: | Beginning in 1712, North Carolina's assembly emitted its own paper money and maintained some of its paper money in public circulation for the rest of the colonial period. This paper money has been reviled as an archetype of what was bad about the paper monies issued by American colonial legislatures. Yet little systematic analysis of North Carolina's paper money has been undertaken. We correct that here. We reconstruct North Carolina's paper money regime from original sources—providing yearly quantitative data on printings, net new emissions, redemptions and removals, amounts remaining in circulation, denominational structure, as well as the paper money's current market value in pounds sterling. We identify different paper money regimes based on how the assembly structured and executed its paper money laws. We model and estimate how the market value of this money was determined. We compare the quantity theory of money with an asset-pricing model that treats the money as zero-coupon bonds to see which explains the observed market value of the paper money better. The asset-pricing model wins by a mile. Finally, we explore counterfactual redemption architectures to show how redemption affected monetary performance in periods of value collapse. |
| Keywords: | asset money, bills of credit, redemption, transaction premium, zero-coupon bonds |
| JEL: | E42 E51 G12 N11 N21 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:dlw:wpaper:17-01&r=pay |
| By: | Malte Krüger |
| Abstract: | In Ireland, there was a bank strike that led to a complete shut-down of the main part of the banking system from May to November 1970. The effects of this strike were surprisingly limited. This had led some observers to conclude that trade credit can easily substitute for bank deposits as a means of payment. In this paper, it is shown why it was possible to continue “business as usual” for an extended period of time. Subsequently, it is argued that such a situation would not have prevailed much longer. Due to rising risks for almost all transactors the use of trade credit would have declined and economic performance would have deteriorated progressively. |
| Keywords: | money, banking, payments, clearing&settlement, Ireland, trade credit |
| JEL: | E02 E59 E65 G21 N14 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:rmn:wpaper:201713&r=pay |
| By: | Marcus Giamattei; Humberto Llavador |
| Abstract: | Classroom experiments as a teaching tool increase understanding and especially motivation. Traditionally, experiments have been run using pen-and-paper or in a computer lab. Pen-and-paper is time and resource consuming. Experiments in the lab require appropriate installations and impede the direct interaction among students. During the last two years, we have created fully elaborated packages to run a complete course in microeconomics principles using face-to-face experiments with mobile devices. The experiments are based on Bergstrom-Miller (2000), and we used classEx, a free online tool, to run them in the classroom.The packages were used at Universitat Pompeu Fabra with over 500 undergraduate students in the fall 2016. This paper presents our experience on classEx and the Bergstrom-Miller approach working in combination, and the lessons learned. |
| Keywords: | experiential learning, microeconomics, mobile devices, classroom experiments, classEx |
| JEL: | A22 C72 C90 D00 |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:bge:wpaper:996&r=pay |
| By: | Joshua D. Angrist; Sydnee Caldwell; Jonathan V. Hall |
| Abstract: | Ride-hailing drivers pay a proportion of their fares to the ride-hailing platform operator, a commission-based compensation model used by many internet-mediated service providers. To Uber drivers, this commission is known as the Uber fee. By contrast, traditional taxi drivers in most US cities make a fixed payment independent of their earnings, usually a weekly or daily medallion lease, but keep every fare dollar net of expenses. We assess these compensation models from a driver’s point of view using an experiment that offered random samples of Boston Uber drivers opportunities to lease a virtual taxi medallion that eliminates the Uber fee. Some drivers were offered a negative fee. Drivers’ labor supply response to our offers reveals a large intertemporal substitution elasticity, on the order of 1.2. At the same time, our virtual lease program was under-subscribed: many drivers who would have benefitted from buying an inexpensive lease chose to opt out. We use these results to compute the average compensation required to make drivers indifferent between ride-hailing and a traditional taxi compensation contract. The results suggest that ride-hailing drivers gain considerably from the opportunity to drive without leasing. |
| JEL: | J18 J22 J41 J58 |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:23891&r=pay |
| By: | Grzybowski, Lukasz; Nicolle, Ambre; Zulehner, Christine |
| Abstract: | In this paper, we assess the impact of competition and regulation on prices of mobile services in France. We estimate hedonic price regressions using data on tariff plans offered by the main mobile telecommunications operator in France between May 2011 and December 2014. In this time period, the obtained quality-adjusted price index decreased by about 51% as compared to a decline in average prices without quality adjustment of 8.9%. In a second step, we relate the quality-adjusted prices to a set of competition and regulation variables and find that the launch of 4G networks by mobile operators was the main driver of price reductions for classic tariffs with commitment. Low cost tariffs without commitment which were introduced to pre-empt the entry of low cost competitor declined at the time of entry. Moreover, we find that regulation, which is approximated by the level of mobile termination charges and international roaming price caps for voice and data, has jointly a significant impact on quality-adjusted prices. In percentage terms, competition is responsible for about 68% of total price decline. We conclude that the reduction in quality-adjusted prices in the last years was largely caused by competition between established operators and by entry of fourth low cost operator. |
| Keywords: | Mobile telecommunications,hedonic price regression,regulation,entry |
| JEL: | L13 L50 L96 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169465&r=pay |
| By: | Tadayoni, Reza; Henten, Anders; Sørensen, Jannick |
| Abstract: | The research question addressed in this paper is concerned with the manners in which the general technological progress in mobile communications is presented and the reasons for the differences in these manners of presentation. The relevance of this research question is that the different presentation modes create a degree of confusion in communications and discussions on mobile technologies. At the same time, it should be recognized that different manners of categorizing technologies illustrate the fact that categorizations are based on different purposes of the classification exercises. In common parlance, progress in mobile technologies is mostly referred to as generations. In the International Telecommunication Union (ITU), the classification terminology is that of International Mobile Telecommunication (IMT) standards. In the specialized standards body with a central position in the standardization of core mobile technologies, namely 3GPP (3rd Generation Partnership Project), the terminology of ‘releases’ is used. In order to address the research question, the paper uses an analytical framework based on the differences and relationships between the concepts of standards, classifications and generations, and it examines the role of organizations involved in the development and marketing of new mobile technologies. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169501&r=pay |
| By: | Jacques Bughin; Tanguy Catlin; Bryce Hall; Nicolas van Zeebroeck |
| Date: | 2017–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/259922&r=pay |
| By: | Wireko, Joseph Kofi; Azumah, Kenneth Kwame |
| Abstract: | Cloud Computing is being widely adopted globally due to its economies of scale, convenience and operational agility to organizations. With Cloud computing, organizations, institutions and companies no longer need to invest heavily in such resources, but instead have the option to migrate to a Cloud model enabling them to purchase or lease resources on line. In an economic context where companies are seeking to make the most from their investments and minimize operating costs, Cloud computing is seen as the solution for competitiveness. The benefits of Cloud computing are therefore of immense importance to the developmental needs of sub-Saharan African countries especially under the Information Communication and Technology for Development (ICT4D) program and the Smart Cities agenda. However, most developing countries, especially those in Sub-Saharan Africa stand the risk of not benefiting fully from the potential of Cloud computing service due to the absence of effective and well-structured decision making process of stakeholders and their accountabilities in Cloud implementation given that one of the basic principles of Cloud computing is that data may be posted or stored “anywhere in the world”. This research is an empirical based study that elicited concerns on Cloud services governance and regulation militating against the rapid adoption and use of Cloud computing in Ghana. Respondents were made up of ICT officers who were in the decision making roles regarding the adoption and implementation of Cloud computing in their respective organizations. The results showed that the diversity of technology, service offerings and lack of coherent legislations and governance hindered Cloud service implementation. This has led to many organizations in developing countries sticking to their data centres and private Clouds in a bid to remain “safe” and “own” their data rather than venture into the “unknown” Cloud where ownership and governorship policies are unclear. |
| Keywords: | Cloud governance,Cloud Computing,Data centres,Smart Cities |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169505&r=pay |
| By: | Stocker, Volker; Whalley, Jason |
| Abstract: | Over the last decade or so, access to broadband telecommunication services has become increasingly important. Through broadband, households and companies are able to engage with the informationbased economy that is emerging, through, for example, buying and selling online or using social media. While many in the UK already benefit from the provision of broadband, some do not – they may not be able to access the Internet and when they do, their connection may be poor. After trying to resolve this through a stream of different initiatives, the UK government announced a broadband universal service obligation of 10 Mbps in late 2015. Ofcom, the telecommunications regulator, launched a consultation in April 2016 and sought the views of interested parties. The consultation attracted considerable interest, but after the submissions from orchestrated campaigns are discounted just over 100 responses remain. But who contributed and what did they say? To explore these two questions, this paper adopts a qualitative approach, using NVIVO, to analyse the responses to the consultation. Our analysis found that submissions were made by individuals as well as pressure groups, companies and various levels of government. Their contributions were highly diverse, reflecting both the complexity of the issue as well as its politicised nature. Somewhat surprisingly, most of the responses address only some of the issues raised in Ofcom’s consultation document, and tensions and contradictions can be identified between the different responses. There is, to a lesser or greater extent, a lack of agreement among the responses regarding the appropriateness of 10 Mbps, whether this should change in the future, how it should be funded and what technologies should be used. In other words, we found no agreement on the key issues that need to be resolved if everyone in the UK is to have access to broadband. |
| Keywords: | universal service,broadband,Internet access,consultation,UK |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169499&r=pay |
| By: | Rajabiun, Reza |
| Abstract: | This article investigates how the transition of broadband Internet connectivity to an essential utility has influenced the development of universal access objectives and policies in Canada. In order to better understand the interplay between economic reality of broadband as an essential social and business input and the policymaking process, the article utilize Natural Language Processing (NLP) tools to map conceptual emphasis in the content of submissions by stakeholders to the telecom regulator in proceedings to review Canada’s universal access policy framework between 2009-2016. The analysis documents that increasing essentiality of broadband Internet access services as an enabler of social and economic activities makes their quality and affordability problems with general economic and policy relevance that cross the traditional conceptualization of universal access in terms of the rural-urban digital divide. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169494&r=pay |
| By: | Prempeh, Kwadwo Boateng; Nsiah Asare, Evelyn |
| Abstract: | The aim of this research was to assess factors that influences the implementation of e-procurement in Technical Universities in Ghana. This was as a result of the important role that e-procurement plays in ensuring an effective and efficient procurement system, though it has not been adequately incorporated in many businesses. The Study employed the Survey Method in the collection of data and questionnaires were the main data collection instrument. One hundred (100) respondents were purposively chosen from the selected Technical Universities. Kaiser-Meyer-Oklin and Barlett's test was used to test if the data obtained was suitable for factor analysis. The factor analysis results gave a four (4)-factor structure which explained 81.208% of the total variance. These factors and the rate at which they explained the total variance are as follows: ICT infrastructure (36.073%), public procurement regulations (20.141%), management commitment (16.156%) and staff competence (8.838%). The Study found out that the ICT infrastructure in the Technical Universities was not adequate. The Study made a recommendation that Technical Universities in Ghana should invest in their ICT infrastructure in order to derive the full benefits of e-procurements. |
| Keywords: | E-Procurement, factor analysis, Technical Universities, public procurement |
| JEL: | M11 |
| Date: | 2017–10–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81959&r=pay |
| By: | Bacchetta, Philippe |
| Abstract: | The Sovereign Money Initiative will be submitted to the Swiss people in 2018. This paper reviews the arguments behind the initiative and discusses its potential impact. I argue that several arguments are inconsistent with empirical evidence or with economic logic. In particular, controlling sight deposits neither stabilizes credit nor avoids financial crises. Also, assuming that deposits at the central bank are not a liability has implications for fiscal and monetary policy; and Benes and Kumhof (2012) do not provide support for the reform as they do not analyze the proposed Swiss monetary reform and their closed-economy model does not fit the Swiss economy. Then, using a simple model with monpolistically competitive banks, the paper assesses quantitatively the impact of removing sight deposits from commercial banks balance sheets. Even though there is a gain for the state, the overall impact is negative, especially because depositors would face a negative return. Moreover, the initiative goes much beyond what would be the equivalent of full reserve requirement and would impose severe constraints on monetary policy; it would weaken financial stability rather then reinforce it; and it would threaten the trust in the Swiss monetary system. Finally, there is high uncertainty both on the details of the reform and on its impact. |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:12349&r=pay |
| By: | Pedrós, Xavier; Bahia, Kalvin; Castells, Pau; Abate, Serafino |
| Abstract: | Assessing the impact of a merger – or predicting the impact of a merger – follows competition law and relies on economic practice. Competition authorities strive for consistency of approach, with assessments generally based on an analysis of the impact on prices, quality and innovation for consumers. Experience has shown, however, that the main measurement relied on by competition authorities is pricing; could the proposed merger increase prices in the short-term? How harmful would this be for the consumer? In the case of mergers in general, and mobile mergers in particular, we argue that whilst price is an important factor, there has been an over reliance on this single aspect of consumers outcomes and less consideration of quality and innovation. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169453&r=pay |
| By: | Zaber, Moinul Islam; Tanni, Tangila Islam; Taharat, Tanjin |
| Abstract: | Users are considered as the weakest link of security. Password based authentication is considered to be the most popular authentication mechanism although in this the entire security of a system can be dependent on the secrecy of a single word. A good text based password is required to be easy to remember and hard to guess sequence of characters, which creates the dilemma. With the increase of use of technology and Internet, a single person needs maintain multiple accounts, which influences users to create highly predictable passwords. Although, many research has been conducted in developed countries on user’s behavior and practices of password, nothing significant is done in Bangladesh. We designed a survey questionnaire and we gave it to students and professionals working in various sectors. We have collected data from 881 participants and analyzed them to identify general perception of password among students and professionals. We also went to government banks, talked to employees and tried to find out the level vulnerability in the case of a password attack to breach data. We found out common misconceptions, alarming practices and shortcomings of password policies. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169507&r=pay |
| By: | Batikas, Michail; Claussen, Jörg; Peukert, Christian |
| Abstract: | Online copyright enforcement, in the form of either direct action against the supply- side (via website shutdowns) or the demand-side (via individual lawsuits against users), has not been very effective in reducing piracy. Regulators have therefore put forward the so called “follow the money" approach. Because the main source of revenue for infringing websites often comes from online advertising, the idea is that cutting access to advertisers could lower the financial incentives for website owners. In this paper, we aim to provide systematic evidence on the effectiveness of such a policy. We collect data on the advertising services associated with a large number of piracy websites and corresponding set of legitimate \placebo" websites before and after the _rst steps of a self-regulatory effort in the European Union went in place. Preliminary results suggest that advertising services indeed reduce their activities on piracy websites, however only those that are most likely to be directly affected by the regulation. We further provide evidence that some advertising services that did not cater to the piracy market before, start to do so { perhaps as a strategic response. |
| Keywords: | Piracy,Copyright Enforcement,Online Advertising |
| JEL: | L82 M37 D83 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169448&r=pay |
| By: | Anna D'Annunzio; Antonio Russo |
| Abstract: | We study the relation between ad networks, consumer privacy and the online advertising market. We consider two publishers that can outsource their ad inventories to an ad network, in a market where consumers and advertisers endogenously multi-home. Differently from publishers, the ad network tracks consumers across websites, limiting wasteful repetition of ads. However, its tracking capability depends on consumer privacy-related choices (e.g., accepting third-party cookies). We show that tracking may increase or decrease the provision of ads, depending on its effect on expected advertising returns and on how audience sizes respond to ad quantities. When they decide whether to allow tracking, consumers exert a positive externality on advertisers. If tracking reduces the provision of ads, there is also a positive indirect externality on consumers. Hence, there may be too little tracking in equilibrium, even from consumers’ perspective. We evaluate several privacy policies, including direct regulatory interventions and the creation of markets for the right to track consumers. Finally, we characterize the conditions such that outsourcing to the ad network expands the provision of ads compared to the case where publishers compete directly for advertisers. |
| Keywords: | advertising, ad network, internet, tracking, multi-homing, privacy |
| JEL: | D43 D62 L82 M37 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_6667&r=pay |
| By: | Garín-Muñoz, Teresa; López, Rafael; Pérez-Amaral, Teodosio; Herguera García, Iñigo; Valarezo, Angel |
| Abstract: | This paper analyzes the adoption patterns of selected internet services such as eCommerce, eBanking and eGovernment in Spain. High quality official data from the Survey on Equipment and Use of Information and Communication Technologies in Households (ICT-H) of the National Institute of Statistics are used. The dataset is a cross section of 16,209 individuals for 2016. Theoretical demand models, grounded in a standard neoclassical utility maximization framework, are adapted to these services. Logistic regression techniques allow quantifying the impact of the socioeconomic characteristics of the individual on the adoption of each service. The resulting models are statistically significant and with a high predictive power. Age, education and levels of internet and computer skills are all significant in explaining the adoption of any of the three services; as are gender and income, but just for eCommerce and eBanking. Interestingly, the level of trust in internet is only significant to explain participation in eCommerce. Finally, policy recommendations are suggested, highlighting the desirability of using specific measures for the different socio-demographic groups and income strata. |
| Keywords: | ECommerce,eBanking,eGovernment,logistic model,digital divide |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169460&r=pay |
| By: | Hukkinen, Taneli; Mattila, Juri; Seppälä, Timo |
| Abstract: | This report documents a blockchain application developed for the real estate sector. The application enables distributed workflow management in a complicated transaction process: the selling of a share of stocks in a housing corporation. As its core element, the application utilizes Ethereum-based smart contracts to facilitate the interaction of various parties involved, as well as the Interplanetary File System (IPFS) to combine data from a number of separate information pools. The motive for this application has been to understand the process of developing blockchain applications with industrial partners. Moreover, the purpose of this exercise has been to examine whether Ethereum-based smart contracts could be effectively utilized for applications in industry and finance. The application and the discussions during its development indicate that similar, market-driven workflow structures may appear in value chains where the number of parties is high and where the sources of information are numerous yet disconnected. |
| Keywords: | Blockchain, application, distributed workflow, real-estate, Ethereum, smart contract |
| JEL: | L1 L8 L17 L73 L85 |
| Date: | 2017–10–23 |
| URL: | http://d.repec.org/n?u=RePEc:rif:report:78&r=pay |
| By: | Kaiser, Tobias Werner; Verbrugge, Sofie; Van der Wee, Marlies; Colle, Didier |
| Abstract: | The importance of public Wi-Fi for providing service to customers and mobile data offloading is steadily increasing. This paper aimed at analyzing the business model of select cases of customer-facing and municipal Wi-Fi networks with respect to physical setting, network ownership, service provisioning, (in)direct revenues, and cooperational benefits. Depending on the setting, different sources of indirect revenue can be identified, in particular with respect to the difference between customer-facing and municipal Wi-Fi. By comparing the cases according to these parameters, the paper concludes that successful public Wi-Fi projects make extensive use of cooperational benefits, as they reduce the economic difficulty of public Wi-Fi deployment by keeping costs low, increasing indirect revenue, and decreasing the likelihood of lawsuits against municipalities, therefore contributing to the formation of free municipal Wi-Fi. In municipal Wi-Fi, these benefits emerge as a result of the distinction between network owner and service provider. Instead of relying on tax-funded public service provisioning and possibly risking a lawsuit on the grounds of distorting competition, municipal Wi-Fi initiatives should therefore seek to cooperate with private ISPs. |
| Keywords: | public Wi-Fi,municipal Wi-Fi,cooperation,indirect effects,indirect revenue,business models |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169470&r=pay |
| By: | Koeder, Marco Josef; Tanaka, Ema |
| Abstract: | This paper conceptualizes “Gacha”, a lottery mechanism to win virtual items, which was developed in Japan, as game of chance elements in mobile games which is used for monetization in freemium business models. Based on the concept of Gacha, referring to previous studies, this paper also analyzes the difference of mobile game regulation between the West and Japan. Japan has a longer history and more experience in both monetization of mobile games with gambling like elements (Gacha) and its regulation including self-regulation. Specific kinds of Gacha are regulated in Japan, not because of its quasi-gamble mechanism, which is in contrast to previous study perception, but because of its misleading marketing promotion method. The Japanese regulatory approach to handle the game of chance issues is to increase the transparency of probability of winning which gives consumer better chances to consider their total amount of spending on Gacha. |
| Keywords: | Free-to-play,freemium,mobile games,behavior,regulation,Gambling,virtual goods,Japan,Europe |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169473&r=pay |
| By: | Zhang, Aihua; Yin, Junwan; Yuan, Bo; Kong, Ying |
| Abstract: | Mobile APP develops very rapidly, while, different from some fixed contexts using traditional products, people can use the mobile applications anytime, anywhere. This paper combined the reference literature with the current situation of APP market, built a model of using mobile APP named "context-APP-gratification”. Referred to context, referring to relevant literature, the contexts of using mobile APPs are divided into 7 categories by the two-step clustering: the "family leisure group", the "outdoor activity group" and the "office work group". Referred to gratification, five types of gratification using mobile APPs are summarized by using the grounded theory in the pilot study and verified by factor analysis in the main study. In a further study, the relationships among the contexts of APPs, the types of APPs, and the gratifications of APPs are studied. In addition, for different types of APP, this paper also propose management recommendations combined with the market analysis. |
| Keywords: | Context,APP,Uses and gratifications |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169508&r=pay |
| By: | Mester, Loretta J. (Federal Reserve Bank of Cleveland) |
| Abstract: | At times, the regulatory framework that has arisen since the global financial crisis can seem like the game of fizzbin (appeared in the original Star Trek TV Show) — very complicated, seemingly without rationale, and constantly changing. In such an environment, sometimes it helps to take a step back and focus on some underlying principles that should serve as a foundation for any financial regulatory framework, and that can help guide any potential changes to strengthen the framework and promote cross-country harmonization. |
| Keywords: | Regulation; Risk Management; incentives; |
| Date: | 2017–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedcsp:87&r=pay |
| By: | Lopez Giron, Ali Jose; Vialle, Pierre |
| Abstract: | Merger and acquisitions (M&A) have been a frequently used growth mode in the ICT Industry during the last two decades. They did so for several reasons, such as expanding the scale and scope of their business or acquire new capabilities Microsoft is highly representative of those ICT firms who have intensively relied on M&A for growth. Microsoft since its foundation has acquired around 200 companies; in average 6 companies per year and has targeted different sectors of the ICT business. Up to the authors’ knowledge, no exhaustive analysis of the acquisitions made by Microsoft over a long period has been made, in particular with a focus on Resources and Competence. In this paper, we aim at identifying the patterns behind the acquisition of numerous companies made by Microsoft since 1992, in terms of end-product, type of business, core product, resource and competences. We put a particular emphasis on the resource and competence acquired through these deals. By document research, we have been able to collect relevant information on 178 acquisitions between 1992 and 2016. In this paper, we present the methodology we have followed and some preliminary results. We conclude by discussing possible research extensions based on the current research. |
| Keywords: | Merger and acquisitions,resource and competence,strategy,Microsoft |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169462&r=pay |
| By: | Leonard Nakamura; Jon Samuels; Rachel Soloveichik (Bureau of Economic Analysis) |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:bea:wpaper:0146&r=pay |
| By: | Zegners, Dainis |
| Abstract: | An important strategy to build a reputation is to practice introductory pricing. By selling at a lower introductory price, sellers can increase demand, induce more buyers to provide feedback, and build a reputation more quickly. I examine introductory pricing in the form of offering free content. I show that offering free content to build a reputation can be a double-edged strategy. It does not only attract buyers with a high preference, but also buyers with a low preference for the product. |
| JEL: | L86 M31 D82 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc17:168293&r=pay |
| By: | Lindeberg, Fredrik |
| Abstract: | Who governs the Internet is a hotly debated subject, and there seems to be a lack of consensus. In this text I aim to show how central Internet functions are coordinated and which consequences that have on how we can consider the Internet to be governed. I show that the Internet has no governor, not even ICANN, and that there are several important actors for the development and function of the Internet, of which the ISPs stand out as the most influential since they can define what Internet access is for most Internet users in the short term. On a longer term there appears to be outside pressure in need of increased regulation which ICANN seems to respond to with amended bylaws and a more formalized multistakeholder model. ICANN, although not a governor with regulatory power, is shown to have governance consequences just by existing as the administrative home of the IANA function. Also fills an organizational void and prevents others from assuming the role of coordinating the Internet’s unique identifiers. If viewed as an organization the Internet fits into the adhocratic form in the typology of Mintzberg (1993). The text is based on interviews, informal discussions and literature. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169480&r=pay |
| By: | Caccinelli, Chiara; Toledano, Joëlle |
| Abstract: | This paper aims to shed light on the economic tools, as well as the legal-economic reasoning, which are used by different European antitrust authorities to assess the allegedly anticompetitive practices of a platform operating in a two-sided market (2SM). First of all, we show that despite the flourishing literature on 2SM economics, antitrust authorities are still facing major challenges when taking decisions concerning two-sided platforms (2SPs). We suggest that in the lack of a sound economic theory on the effects of abusive behaviour in 2SMs, antitrust authorities have a discretionary power as to what to retain or ignore of a 2SP’s business model. Secondly, we perform a cross-country, comparative analysis of four recent competition proceedings against the 2SP Booking.com and highlight conceptual and practical divergences among antitrust authorities which are bound by and applying a common European legislation towards the same transnational company. Finally, we review the effects of the different authorities’ decisions and draw some conclusions as to the effectiveness and appropriateness of the measures which are currently implemented towards 2SPs. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169452&r=pay |
| By: | Sheng Huang (Bangor University); Jonathan Williams (Bangor University); Ru Xie (Bangor University) |
| Abstract: | The possibility of liquidity risk interdependence between financial institutions and real estate firms raises concern over financial stability. Changes in real estate liquidity conditions reflecting credit risks could increase bank liquidity risk due to untimely loan repayment. Liquidity risks can be amplified if liquidity shortfalls are not resolved. Using data from China from 2000 to 2014, and using three liquidity indicators to measure the impact of market capacity (liquidity depth), transaction costs (liquidity tightness) and market efficiency (liquidity resilience), a first result shows commonality or a two-way loop in liquidity risks between financial institutions and real estate firms. A second result indicates a positive and long run effect of the liquidity resilience of real estate firms on financial institutions. Liquidity risk transmission becomes prominent during episodes of market distress. |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:bng:wpaper:17004&r=pay |
| By: | Niebel, Thomas; Rasel, Fabienne; Viete, Steffen |
| Abstract: | This paper analyzes the relationship between firms’ use of big data analytics and their innovative performance for product innovations. Since big data technologies provide new data information practices, they create new decision-making possibilities, which firms can use to realize innovations. Applying German firm-level data we find suggestive evidence that big data analytics matters for the likelihood of becoming a product innovator as well as the market success of the firms’ product innovations. The regression analysis reveals that firms which make use of big data have a higher likelihood of realizing product innovations as well as a higher innovation intensity. Interestingly, the results are of equal magnitude in the manufacturing and services industries. The results support the view that big data analytics have the potential to enable innovation. |
| Keywords: | Big data,data-driven decision-making,innovation,product innovation,firmlevel data |
| JEL: | D22 L20 O33 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169489&r=pay |