ERN: Networks (Topic)最新文献

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PoW Blockchain Network's Short-term Self-correction Mechanism PoW区块链网络的短期自我纠错机制
ERN: Networks (Topic) Pub Date : 2020-12-30 DOI: 10.2139/ssrn.3757830
Dunzhe Tang, P. He, Zhong Fan
{"title":"PoW Blockchain Network's Short-term Self-correction Mechanism","authors":"Dunzhe Tang, P. He, Zhong Fan","doi":"10.2139/ssrn.3757830","DOIUrl":"https://doi.org/10.2139/ssrn.3757830","url":null,"abstract":"This paper uses a partial equilibrium framework to prove that in the short-term, network hashrate shock affects average miner income through both transaction fee income and block reward income.<br>Using Bitcoin blockchain data, we show that miner average transaction fee income goes in the opposite direction to network hashrate shock while miner average block reward income goes in the same direction as the shock.<br>This implies the coexistence of a positive and negative feedback loop between network hashrate and miner income. As block reward diminishes, PoW blockchain networks should become more stable and resilient to exogenous hashrate shocks.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115759828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Why does individual learning endure when crowds are wiser? 为什么当群体更聪明的时候,个人的学习能持续下去?
ERN: Networks (Topic) Pub Date : 2020-12-28 DOI: 10.2139/ssrn.3756565
Benoît de Courson, L. Fitouchi, J. Bouchaud, M. Benzaquen
{"title":"Why does individual learning endure when crowds are wiser?","authors":"Benoît de Courson, L. Fitouchi, J. Bouchaud, M. Benzaquen","doi":"10.2139/ssrn.3756565","DOIUrl":"https://doi.org/10.2139/ssrn.3756565","url":null,"abstract":"The ability to learn from others (social learning) is often deemed a cause of human species success. But if social learning is indeed more efficient (whether less costly or more accurate) than individual learning, it raises the question of why would anyone engage in individual information seeking, which is a necessary condition for social learning's efficacy. We propose an evolutionary model solving this paradox, provided agents (i) aim not only at information quality but also vie for audience and prestige, and (ii) do not only value accuracy but also reward originality -- allowing them to alleviate herding effects. We find that under some conditions (large enough success rate of informed agents and intermediate taste for popularity), both social learning's higher accuracy and the taste for original opinions are evolutionary-stable, within a mutually beneficial division of labour-like equilibrium. When such conditions are not met, the system most often converges towards mutually detrimental equilibria.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"298 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127071489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Platform Dynamics and Economic Development 平台动态与经济发展
ERN: Networks (Topic) Pub Date : 2020-12-14 DOI: 10.2139/ssrn.3748484
Danxia Xie, Buyuan Yang
{"title":"Platform Dynamics and Economic Development","authors":"Danxia Xie, Buyuan Yang","doi":"10.2139/ssrn.3748484","DOIUrl":"https://doi.org/10.2139/ssrn.3748484","url":null,"abstract":"We build a novel dynamic model of two-sided markets which can be used to explore both intertemporal and cross-side pricing strategies of platform enterprise. This two-period model goes beyond the traditional two-sided market framework to examine the new intertemporal tradeoffs that a platform enterprise faces when formulating differentiating prices over time for different sides. With this dynamic framework, we analyze a new phenomenon of economic development, emerging \"Digital Villages\" in China, which obtain initial subsidies from e-commerce platform enterprises like Alibaba for their low-income dwellers as sellers. After these low-income sellers become more capable of running the online business through learning-by-doing, the e-commerce platform will charge them a higher fee. Recently, the economic growth of these \"Digital Villages\" has been phenomenal. Theoretical results based on our dynamic model indicate, if third-degree price discrimination between new and old online sellers in period 2 is allowed, the platform will charge sellers a lower fee in period 1 compared with the later period. Furthermore, when the cross-side network externality of each online seller is stronger than that of each online buyer or the learning-by-doing benefit each online seller obtains is high enough, the platform will provide subsidies for sellers in the first period. Moreover, some dynamic pricing strategies will change if this price discrimination on sellers is prohibited. Finally, we examine the effects of the price regulation on the member fees to heterogeneous groups as well as social welfare regarding the two-sided markets behind the \"Digital Villages\" within this new theoretical framework.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129680002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Connecting Friends 联系朋友
ERN: Networks (Topic) Pub Date : 2020-12-07 DOI: 10.2139/ssrn.3528947
Sihua Ding
{"title":"Connecting Friends","authors":"Sihua Ding","doi":"10.2139/ssrn.3528947","DOIUrl":"https://doi.org/10.2139/ssrn.3528947","url":null,"abstract":"I investigate introductions as a way of network formation. In the model, players are endowed with different ability levels and want to match with a neighbour as capable as possible. Introductions for unacquainted neighbours influence the matching outcome since the network structure is changed. I show that a player is always willing to introduce two neighbours when at least one of them is less capable than him. If the two neighbours are both more capable, the introducer checks if there is an alternating path from one of the neighbours to him. The existence of the path is necessary for the introducer to be affected and the parity of the path length determines the direction of the effect. I also study an extension where players only have incomplete local information about the network. Now, decision-making becomes simpler. An introduction benefits the introducer when he is more capable than his current match.<br>","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114413036","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
High - Profile Project Work: 'Upwork' Global Platform (The Hungarian Case) 高知名度项目工作:“Upwork”全球平台(匈牙利案例)
ERN: Networks (Topic) Pub Date : 2020-12-01 DOI: 10.2139/ssrn.3912686
J. Pap, C. Mako, Illéssy Miklós
{"title":"High - Profile Project Work: 'Upwork' Global Platform (The Hungarian Case)","authors":"J. Pap, C. Mako, Illéssy Miklós","doi":"10.2139/ssrn.3912686","DOIUrl":"https://doi.org/10.2139/ssrn.3912686","url":null,"abstract":"In 2003, a Silicon Valley development project sought to employ a developer that the project team believed was best suited for the project but who was located in Athens. The remote work, however, raised a number of concerns since the developer in Athens didn’t plan to relocate to Silicon Valley for the project. The solution they arrived at allowed the developer to remain in Athens and work remotely using an online platform called oDesk, which was aimed at addressing concerns of remote work, such as visibility, efficiency, and trust. Since the platform proved successful, they thought that the digital tool could benefit other firms and individuals looking for greater flexibility and innovative ways of working. Five years earlier - in 1998 - another company called Elance was founded by an MIT graduate and a veteran of Wall Street. They created a marketplace for small businesses, and in 2013 Elance and oDesk were merged. Two years later the combined firm was rebranded to Upwork, which is now the world’s largest freelancing website. The platform aims at “creating economic and social value on a global scale by providing a trusted online workplace to connect, collaborate, and succeed” (Upwork.com, 2018, in: Clausen – Khashabi – Kretschner – Seifried, 2018:5). The structure of this case study is a follow: i) we present the general features of the Upwork platform, ii) outline the key characteristics of the globalized service model, iii) review the views of Upworkers by the key dimensions of platform work (i.e., motivation, work content and skills, working conditions and formation of voices, and iv) focus on the issues raised during the interviews with platform workers. The final section summarizes the key lessons learned from the case study.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132055136","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Effect of Live Chat on Traffic-to-Sales Conversion: Evidence from an Online Marketplace 实时聊天对流量到销售转换的影响:来自在线市场的证据
ERN: Networks (Topic) Pub Date : 2020-10-25 DOI: 10.2139/ssrn.3718690
Haoyan Sun, Jianqing Chen, Ming Fan
{"title":"Effect of Live Chat on Traffic-to-Sales Conversion: Evidence from an Online Marketplace","authors":"Haoyan Sun, Jianqing Chen, Ming Fan","doi":"10.2139/ssrn.3718690","DOIUrl":"https://doi.org/10.2139/ssrn.3718690","url":null,"abstract":"Over the years, online retailers have increasingly embraced live chat to improve customer service and facilitate transactions. We examine how online sellers’ use of live chat influences their online traffic conversion into sales. Like brick-and-mortar stores, a fundamental task for online stores is to convert traffic into purchases, an important problem in retail service operations management. We argue that live chat can increase online sales conversion by performing the functions of informing and persuading. We explore how the two roles of live chat interact with existing information regarding sellers and their products, such as product descriptions, ratings, price, and reviews, as these types of information also influence consumers’ perceived product quality and help mitigate uncertainties in product fit to their needs. We apply a random-coefficient model in a Bayesian hierarchical framework and test the model using a panel dataset from Taobao, the leading C2C platform in China. Our results suggest that live chat has a positive impact on conversion and that the strength of this positive effect depends on seller and product characteristics. The positive effect is stronger when product information on web pages is less comprehensive (where live chat manifests an informative role), and when the perceived value of the product is higher (where live chat manifests a persuasive role) with either a higher product rating or a lower product price. Our results provide relevant and useful implications for online merchants and platform owners.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123383489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How (Grandfathered) Slots Can Be A First-best Policy Whereas Prices Cannot 老虎机为何能成为最佳政策,而价格却不能
ERN: Networks (Topic) Pub Date : 2020-10-05 DOI: 10.2139/ssrn.3705213
Hao Lang, Achim I. Czerny
{"title":"How (Grandfathered) Slots Can Be A First-best Policy Whereas Prices Cannot","authors":"Hao Lang, Achim I. Czerny","doi":"10.2139/ssrn.3705213","DOIUrl":"https://doi.org/10.2139/ssrn.3705213","url":null,"abstract":"This study considers a stylized airport network designed to clearly identify the role of local and non-local passengers for the assessment of local welfare-maximizing airport congestion policies. The analysis shows that the local welfare-maximizing slot quantity can coincide with the first-best outcome whereas, in our framework, this is impossible in the case of pricing policy. Whether the outcomes coincide in the case of slot policy depends on the shares of locals and non-locals in terms of inframarginal and marginal passengers.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"64 7","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113943335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Should Competing Firms Cooperate to Reduce Congestion? 竞争的公司应该合作来减少拥堵吗?
ERN: Networks (Topic) Pub Date : 2020-10-01 DOI: 10.2139/ssrn.3564250
Jagan Jacob
{"title":"Should Competing Firms Cooperate to Reduce Congestion?","authors":"Jagan Jacob","doi":"10.2139/ssrn.3564250","DOIUrl":"https://doi.org/10.2139/ssrn.3564250","url":null,"abstract":"Consider two profit-maximizing service firms in the presence of congestion-sensitive customers. Firms set their prices and compete to capture market share. We compare cases where the firms can invest either independently (competition) or jointly (co-opetition) in congestion-reduction (CR) activities. Using a stylized analytical model, we find that when the market is covered (that is when everyone buys a product), the firm with a lower marginal CR cost earns more profit under competition than under co-opetition. When the market is uncovered, co-opetition is more profitable if the joint marginal CR cost is less than a threshold. We find that when the market is covered, neither firm makes any CR investment but when the market is uncovered, there will be a CR investment provided the marginal CR cost is lower than a threshold. Our analysis shows that when prices are regulated, firms under competition make CR investments but firms under co-opetition do not. The impact of proximity on each firm’s choice of location under competition and co-opetition are different. We find that if the marginal CR cost under joint investment is larger than a cutoff, then social welfare is also higher under competition than under co-opetition.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129651369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
Sizzle or Fizzle? Supply and Consumption Dynamics of Home Cooked Food on Sharing Platforms 嘶嘶声还是嘶嘶声?共享平台上家常菜的供给与消费动态
ERN: Networks (Topic) Pub Date : 2020-08-27 DOI: 10.2139/ssrn.3681824
Shaobo Li, Le Wang, Jianxiong Huang, R. Gopal, Zhijie Lin
{"title":"Sizzle or Fizzle? Supply and Consumption Dynamics of Home Cooked Food on Sharing Platforms","authors":"Shaobo Li, Le Wang, Jianxiong Huang, R. Gopal, Zhijie Lin","doi":"10.2139/ssrn.3681824","DOIUrl":"https://doi.org/10.2139/ssrn.3681824","url":null,"abstract":"Faced with the increasingly worsening obesity crisis, many governmental and non-governmental organizations have been promoting home cooking as a key part of the strategy to tackle poor quality diets and obesity. Home cooked food sharing platforms, as a quintessential illustration of the sharing economy, aim at improving public health by providing healthy food to those who do not have time to cook from home. Although the economic benefits derived from sharing economy are widely researched and acknowledged in theory and practice, however, the understanding about how sharing economy affects non-economic welfare (e.g., consumer health) is lacking. In a context of a home cooked food sharing platform, we conduct an empirical study to examine the question of whether sharing economy helps consumers to improve their dietary quality and develop healthy eating habits. We collected data from a popular Chinese mobile kitchen sharing platform and used manual coding and machine learning methods to measure food healthiness of over 180,000 unique dishes. We studied both food provision and consumption on the platform, and found that sellers receiving more orders and earning more revenue tend to reduce the provision of healthy food over time, while consumers who prefer healthy food are more likely to leave the platform. Our unfortunate findings indicate that without interventions, sharing economy may lead to negative and even harmful consequences because of the misaligned interests of home cooks and consumers.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115389135","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Uncertainty Shocks in Networks 网络中的不确定性冲击
ERN: Networks (Topic) Pub Date : 2020-08-23 DOI: 10.2139/ssrn.3662786
Hikaru Saijo
{"title":"Uncertainty Shocks in Networks","authors":"Hikaru Saijo","doi":"10.2139/ssrn.3662786","DOIUrl":"https://doi.org/10.2139/ssrn.3662786","url":null,"abstract":"Existing studies on uncertainty shocks focus on economy-wide shocks that affect all sectors symmetrically and simultaneously. However, as the recent COVID-19 pandemic underscores, a rise in uncertainty often appears to be concentrated in several specific sectors. In this paper, I study how these sector-specific uncertainty shocks propagate and affect aggregate outcomes. First, using sector-level data, I estimate sectoral TFP and demand processes allowing for stochastic volatility. I show that sectoral TFP and demand display nontrivial fluctuations in volatility even after controlling for economy-wide variations. I estimate local projections and find that an increase in sector-specific TFP or demand volatility reduces output in that sector. Second, I use the estimated sectoral TFP and demand processes to simulate the impact of sector-specific volatility shocks in a calibrated multi-sector New Keynesian model that features input-output networks. I find that sectoral volatility shocks generate contractions in aggregate output, hours, consumption, and investment. The key mechanism is the precautionary pricing motive that multiplies and propagates to other sectors.","PeriodicalId":107258,"journal":{"name":"ERN: Networks (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127924875","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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