|
on Payment Systems and Financial Technology |
| By: | Zied Mani (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - UN - Université de Nantes); Inès Chouk (THEMA - Théorie économique, modélisation et applications - UPN - Université Paris Nanterre - Université de Cergy Pontoise - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The rapid development in recent years of the Internet of Things has fostered the emergence of new models and services. Despite the numerous opportunities that the Internet of Things offers for services, there still remain major challenges to be addressed by companies. The aim of this paper is to provide a better understanding of antecedents of consumers’ resistance to smart services. Our findings show that two categories of factors have a significant impact on consumer resistance: (1) functional barriers (unauthorized secondary use of personal information, perceived health risk, and perceived security risk) and psychological barriers (technology anxiety, need for human interaction, and consumer empowerment). |
| Keywords: | consumer resistance,innovation,Internet of Things,smart service,service technology,consumer empowerment |
| Date: | 2018–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01678806&r=pay |
| By: | Alex Pazaitis (TTÜ - Tallinn University of Technology); Primavera De Filippi (CERSA - Centre d'Etudes et de Recherches de Sciences Administratives et Politiques - UP2 - Université Panthéon-Assas - M.E.N.E.S.R. - Ministère de l'Éducation nationale, de l’Enseignement supérieur et de la Recherche - CNRS - Centre National de la Recherche Scientifique); Vasilis Kostakis (TTÜ - Tallinn University of Technology) |
| Abstract: | This article explores the potential of blockchain technology in enabling a new system of value that will better support the dynamics of social sharing. Our study begins with a discussion of the evolution of value perceptions in the history of economic thought. Starting with a view on value as a coordination mechanism that defines meaningful action within a certain context, we associate the price system with the establishment of capitalism and the industrial economy. We then discuss its relevance to the information economy, exhibited as the techno-economic context of the sharing economy, and identify new modalities of value creation that better reflect the social relations of sharing. Through the illustrative case of Backfeed, a new system of value is envisioned, comprising three layers: (a) production of value; (b) record of value; and (c) actualisation of value. In this framework, we discuss the solutions featured by Backfeed and describe a conceptual economic model of blockchain-based decentralised cooperation. We conclude with a tentative scenario for blockchain technology that can enable the creation of commons-oriented ecosystems in a sharing economy. |
| Keywords: | Blockchain,Backfeed,theory of value,information economy |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01676881&r=pay |
| By: | Zied Mani (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - UN - Université de Nantes); Inès Chouk (THEMA - Théorie économique, modélisation et applications - UPN - Université Paris Nanterre - Université de Cergy Pontoise - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Internet of Things is expected to be the next phase of the Internet revolution and to transform consumers’ lives. It nevertheless raises challenges. The aim of our research is to provide a better understanding of antecedents of consumers’ resistance to smart services. Data were collected on a sample of 653 consumers. Results show that three categories of factors have a significant impact on consumer resistance: (1) consumer-related factors (mobiquity, technological dependence, and self-image congruence), (2) innovation-related factors (perceived security, perceived complexity and perceived health risk), (3) and system-related factors (perceived government surveillance and general skepticism towards IoT). Based on the results, theoretical and managerial implications are developed. |
| Abstract: | L’internet des objets devrait être la prochaine phase de la révolution numérique qui va transformer la vie des consommateurs. Il soulève néanmoins des défis dans plusieurs secteurs, notamment dans la banque. L'objectif de notre recherche est de mieux comprendre les antécédents de la résistance des consommateurs aux services bancaires basés sur les objets connectés (ou services bancaires intelligents). Les données ont été recueillies sur un échantillon de 653 consommateurs. Les résultats montrent que trois catégories de facteurs ont un impact significatif sur la résistance des consommateurs: (1) des facteurs liés au consommateur (mobiquité, dépendance technologique et congruence perçue), (2) des facteurs liés à l'innovation (sécurité perçue, complexité perçue et risque perçu sur la santé), (3) et des facteurs liés au système (surveillance perçue du gouvernement et scepticisme général vis-à-vis des objets connectés). Sur la base des résultats, des implications théoriques et managériales sont développées. |
| Keywords: | resistance,innovation,Internet of Things,smart service,smart product,smart banking,internet des objets,service bancaire intelligent,banque connectée,objets connectés |
| Date: | 2018–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01678793&r=pay |
| By: | Abeer ElBahrawy; Laura Alessandretti; Anne Kandler; Romualdo Pastor-Satorras; Andrea Baronchelli |
| Abstract: | The cryptocurrency market surpassed the barrier of \$100 billion market capitalization in June 2017, after months of steady growth. Despite its increasing relevance in the financial world, however, a comprehensive analysis of the whole system is still lacking, as most studies have focused exclusively on the behaviour of one (Bitcoin) or few cryptocurrencies. Here, we consider the history of the entire market and analyse the behaviour of 1,469 cryptocurrencies introduced between April 2013 and June 2017. We reveal that, while new cryptocurrencies appear and disappear continuously and their market capitalization is increasing (super-)exponentially, several statistical properties of the market have been stable for years. These include the number of active cryptocurrencies, the market share distribution and the turnover of cryptocurrencies. Adopting an ecological perspective, we show that the so-called neutral model of evolution is able to reproduce a number of key empirical observations, despite its simplicity and the assumption of no selective advantage of one cryptocurrency over another. Our results shed light on the properties of the cryptocurrency market and establish a first formal link between ecological modelling and the study of this growing system. We anticipate they will spark further research in this direction. |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1705.05334&r=pay |
| By: | E. Carroni; L. Ferrari; S. Righi |
| Abstract: | Thanks to new digital technologies, web users are continuously targeted by offers that potentially fit their interests even if they are not actively looking for a product. Does this matching always promote transactions with high social value? We consider a model in which web users with state-contingent preferences are targeted by relevant banners. We characterize the optimal strategy of a seller who, in addition to the price of the offered good, designs a banner. We show that, in equilibrium, there is a positive relationship between the price of the offered good and the accuracy of the banner sent to users. Then, we consider the strategic decision of a Platform that attracts sellers because of its targeting abilities and we underline that a reduction in seller's costs may translate into less informative banners and lower prices, fueling purchases of goods that rational individuals may regret due to the persuasive nature of banners. |
| JEL: | D80 D82 D83 L10 M37 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp1116&r=pay |
| By: | Marc Raffinot (LEDa, UMR DIAL-Paris-Dauphine); Mathieu Raffinot (CNRS/LaBRI, Universite de Bordeaux) |
| Abstract: | (english) Blockchain technologies are very popular, but the way they actually work is often not really understood. Expectations are sometimes disconnected from reality. This is true in the field of application of these technologies to developing countries. We show it by i) describing the details of the blockchain technologies ii) comparing their potentialities with the deter- minants of development and iii) showing the limitations of the blockchain technologies to boost development. We then present technological devices additional to blockchains better suited to the development process by introducing the notion of \blocks host". _________________________________ (français) Les technologies liées à la blockchain sont omniprésentes dans les media mais leur fonctionnement est souvent peu compris et les attentes vis-à-vis de ces technologies sont parfois déconnectées de la réalité. Le domaine du développement ne fait pas figure d'exception, nous le montrons en décrivant tout d'abord plus en détails les technologies liées aux blockchains, puis nous comparons leurs possibilités vis-à-vis des besoins dans ce domaine et faisons apparaître les limites d'application. Enfin, sans revenir sur les limites de la vision technocratique en rapport des besoins réels, nous proposons des pistes technologiques complémentaires aux blockchains mais mieux adaptées au processus de développement, en introduisant la notion d'hébergeur de blocs. |
| Keywords: | blockchain ; pays en developpement; crypto-monnaies; systemes financiers; droits de proprietes; hebergeur de blocs. |
| JEL: | G29 L14 L17 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:dia:wpaper:dt201801&r=pay |
| By: | Simplice Asongu (Yaoundé/Cameroun); Jacinta C. Nwachukwu (Coventry University, UK) |
| Abstract: | The study investigates critical masses or thresholds of educational quality at which the diffusion of information with mobile phones enhances inclusive human development. The empirical evidence is based on simultaneity-robust Fixed Effects regressions with data from 49 Sub-Saharan African countries for the period 2000-2012. The following findings are established: (1) There are positive marginal and net effects on inclusive development from the interaction between mobile phones and educational quality, (2) Between 10 and 27 pupils per teacher is needed in primary education in order for mobile phones to enhance inclusive human development, (3) From a comparative dimension: (i) English Common law countries enjoy higher net effects compared to their French Civil law counterparts, (ii) positive net effects are more obvious in politically stable (vis-à-vis politically unstable) countries, (iii) positive net impacts are also more apparent in resource-poor (vis-à-vis resource-rich) countries, (iv) low income (vis-à-vis higher income) countries have a higher net effect on inclusive development, (v) landlocked (vis-à-vis unlandlocked) countries experience higher net effects and (iv) Islam-dominated countries have a slightly higher net impact compared to their Christian-oriented counterparts. |
| Keywords: | Mobile phones; inclusive human development; Africa |
| JEL: | G20 I10 I32 O40 O55 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:17/057&r=pay |
| By: | Romain Gandia (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc); Guy Parmentier (CERAG - Centre d'études et de recherches appliquées à la gestion - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Faced with the limits of cooperative approaches to business model in optimizing the value creation and value capture, we propose here a new multi-sided business model architecture adapted to digital industries which allows considering new opportunities to create and capture value, for the growth and survival of innovative SMEs. |
| Keywords: | value creation,value capture,digital business model,multi-sided platform |
| Date: | 2017–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01592885&r=pay |
| By: | Faïz Gallouj (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01672553&r=pay |
| By: | Emek Basker; Timothy Simcoe |
| Abstract: | This paper matches archival data from the Uniform Code Council to establishments in the Longitudinal Business Database and Economic Census to study the diffusion and impacts of the Universal Product Code (UPC). We find evidence of network effects in the diffusion process. Matched-sample difference-in-difference estimates show that employment and trademark registrations increase following UPC adoption by manufacturers or wholesalers. Industry-level imports also increase with domestic UPC adoption. Our findings suggest that barcodes, scanning and related technologies helped stimulate variety-enhancing product innovation and encourage the growth of international retail supply chains. |
| JEL: | L11 L15 L81 O33 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24040&r=pay |
| By: | Karaman, Kivanc; Pamuk, Sevket; Yildirim, Secil |
| Abstract: | This paper investigates the determinants of monetary stability in Europe from the late medieval era until World War I. Through this period, the nominal anchor for monetary policy was the silver/gold equivalent of the monetary unit. States, however, frequently abandoned this anchor, some depreciating their monetary units against silver/gold less than 10 times and others more than 10,000 times between 1500 and 1914. To document patterns of monetary stability and put alternative theories of stability to test, we compile a new data set of silver/gold equivalents of monetary units for all major European states. We find strong support for political and fiscal theories arguing that states with weak executive constraints and intermediate levels of fiscal capacity had less stable monetary units. In contrast, the empirical support for monetary theories emphasizing the mechanics of the monetary system is weak. These findings support the primacy of political and fiscal factors over mechanical factors for monetary stability. |
| Keywords: | depreciation; fiat standard; fiscal capacity; gold standard; money; price stability; silver standard |
| JEL: | E31 E42 E52 N13 N43 O23 O43 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:12583&r=pay |
| By: | Faridah Djellal (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique); Faïz Gallouj (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01672567&r=pay |
| By: | Marisquerena, Sergio Ezequiel; Zanfrillo, Alicia Inés; Artola, María Antonia |
| Abstract: | El objetivo principal de este trabajo es determinar cuál es el nivel de desarrollo del comercio electrónico de los hoteles de categoría superior de la ciudad de Mar del Plata, que facilitan a los usuarios concertar reservas y pagos en forma virtual. Por otro lado, como objetivo secundario establecer la distancia -o brecha- entre la provisión ideal de herramientas del e-commerce requerida por el usuario y la ofrecida por los hoteles de categoría superior de la ciudad de Mar del Plata. |
| Keywords: | Comercio Electrónico; Hoteles; Mar del Plata; |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:2793&r=pay |
| By: | Marisquerena, Sergio Ezequiel; Zanfrillo, Alicia Inés; Artola, María Antonia |
| Abstract: | El objetivo general de la investigación es determinar el nivel de publicación de recursos y contenidos digitales del sector hotelero marplatense en los websites corporativos que facilitan a los usuarios tanto la planificación del viaje como su estancia en el destino turístico. |
| Keywords: | Internet; Hoteles; Mar del Plata; |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:2792&r=pay |