The transformation of media economy paradigm based on time value and decentralization

Abstract

As an important underlying structure of the Internet and economy, the media economics is undergoing structural changes. It is in urgent need of a more original and forward-looking academic vision and theoretical framework to refine its basic problems to study and solve more challenging practical problems in a larger picture. First, this study critically analyzes the current serious problems of media economics basic problems and the absence of necessary unified value scale. Also, the study discusses how to construct a unified value scale of media economics based on time value theoretically. The reason is that, time value could completely reflect the production and consumption process of media content products better than monetary value, which is much closer to human culture and spiritual life in reality. Under the limit of life length, time value is also much closer to the absolute or final value transaction which contains more complex forms and laws of value transaction. Furthermore, it discusses the theory frame of multi-dimensional value analysis on media content products and how to elaborate the dynamic evolution mechanism labeled by decentration according to the relative changes of organization cost and transaction cost, in order to promote the paradigm innovation of media economic research.