Abstract Blockchains are a new digital technology that combines peer-to-peer network computing and cryptography to create an immutable decentralised public ledger. Where the ledger records money, blockchain is cryptocurrency, such as Bitcoin; but entries can record any data structure, including property titles, identity certification, contracts, so on. We argue economics of blockchains extend beyond analysis general purpose its disruptive Schumpeterian consequences broader idea institutional...

What is the dynamic value of creative industries from economic perspective? This paper seeks to answer this question by proposing four models relationship between and whole economy, then examining evidence for each. We find that growth fit data well, but not everywhere. discuss methodological empirical basis finding its implications cultural policy.

Claims blockchain is more than just ICT innovation, but facilitates new types of economic organization and governance. Suggests two approaches to economics blockchain: innovation-centred governance-centred. Argues that the governance approach — based in institutional public choice most promising, because it models as a technology for creating spontaneous organizations, i.e. economies. Illustrates this with case study Ethereum-based infrastructure protocol platform Backfeed.

This paper examines the industrial dynamics of new digital media from perspective consumer co‐creation. We find that consumer–producer interactions are an increasingly important source value‐creation. conclude cultural and economic analysis might be usefully united about these themes, situated creativity should construed as ongoing co‐evolutionary process between dynamics.

This paper introduces the analytic context of public sector innovation studies along with an overview nine papers in this volume. But it also seeks to advance a new research agenda from economic perspective incentives sector. argues for practical model that is less about imitation market or other best practice and more cognizant scientific method randomised controlled experiments.

Coworking spaces are a rapid growing feature of modern cities, and increasingly popular with freelancers, knowledge workers, start-up communities, others engaged in non-standard creative urban work. Drawing on ethnographic data gathered large case study coworking Australia, we develop an economic model important aspect which space is Schelling point. This argues that the main margin value provides not price competition serviced offices, or more pleasant environment than working at home, but...

The purpose of this paper is to introduce the concept 'coworking' an academic audience. It argues that coworking a complex social phenomenon can be differentiated from other spatial concepts relate work, learning and interactions. provides historical account origins reviews existing scholarly popular literature, offering theoretical distinction between spaces serviced offices hinges upon degree collaboration versus importance location facilities office environment. An overview most recent...

Distributed ledger technology, invented for cryptocurrencies, is increasingly understood as a new general-purpose technology broad range of economic activities that rely on consensus database transactions or records. However, blockchains are more than just disruptive ICT. Rather, they institutional governance competes with other institutions capitalism, namely firms, markets, networks, and even governments. We present this view through case study Backfeed, an Ethereum-based platform creating...

In modern economics, the institutions surrounding creation and development of new technologies are firms, markets governments. We propose an alternative theory that locates institutional origin further back in commons when self-organizing groups technology enthusiasts develop effective governance rules to pool distributed information resources. The 'innovation commons' alleviates uncertainty around a nascent by pooling about uses, costs, problems opportunities. While innovation mostly...

Abstract From the adoption of shipping container to coordinated trade liberalization, reductions in costs have propelled modern globalization. In this paper, we analyse application blockchain reduce producing and coordinating trusted information along supply chains. Consumers, producers, governments increasingly demand about quality, characteristics, provenance traded goods. Partially due risks error fraud, is costly produce maintain between dispersed parties. Recent efforts sought overcome...

The renaissance in evolutionary economics the past two decades has brought with it a great deal of theoretical development and interdisciplinary import. Much this been useful, but not all commensurate. In paper, we make case for limits to developments that lack clearly specified ontological commitments by attempting an inductive synthesis content empirical generalizations economics. We call 'evolutionary realism' present three axioms – (1) existences are bimodal matter‐energy actualizations...

It has long been recognized that government and public sector services suffer an innovation deficit compared to private or market-based services. This paper argues this can be explained as unintended consequence of the concerted drive toward elimination waste through efficiency, accountability transparency. Yet in evolving economy a false it also eliminates the`good waste' is necessary cost experimentation. results systematic trade-off between static efficiency minimizing misuse resources...

Abstract This paper analyses the origin of innovation using institutional economic theory. Because distributed information and fundamental uncertainty, an efficient context for organization in its early stages is often that a common pool resource. The theory commons draws upon Hayek, Williamson Ostrom to present problem as combined knowledge problem, implicit contracting collective action governance problem. Innovation also implies Kirzner's model entrepreneurial opportunity discovery...