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• What is money? What is income?
What is value?
• What’s the value of information, intellectual property
and secrecy?
• What is happening to institutions as we know them? What
is happening to individuals? Relationships?
• Do current econometrics work?
• What are the new business and pricing models?
• How do we move from assumptions of value in property
to value in relationships?
• What happens in a "frictionless" economy?
• How do regulation and taxation contend with the value
shifts?
• How can we manage risk when we have trouble measuring
value?
Theories
of value in the digital world
are
full of nuances and contradictions
when compared to traditional
economics. The value of information
increases with abundance
not scarcity; the value of
digital goods does not degrade
with use. Less is often more.
Today’s economic emphasis
is moving from "things" to
the connections between things.
How do we adjust profitably
to the imperatives of the
new and in fact, now economy?
How
do we adapt corporate accounting practices to
count the right things?
How do
we explain to traditionalists
that relationships are
worth more than hard
assets? Does
content become more valuable
when it is given away
for free? If so, how do we
compensate creativity?
As digital value
becomes increasingly
context dependent, how do we track
the inevitable dramatic
fluctuations that arise
in a market where
valuing bits is still
evolving? What is the value of digitized
property? What is the
cost of digital scaleability?
Compensation models
are changing rapidly to meet
new needs.
The medium of exchange
between buyers and
sellers includes
new currencies and
systems. Often, the regulators
are way behind the
curve and
taxation is just one
labyrinth of confusion.
Pricing strategies
and price determination
mechanisms are dynamic.
The list of
new electronic pricing
models grows daily
to include e-auctions,
reverse auctions, services
auctions, time-value
tradeoffs, option-based
pricing, e-barter,
group buying discounts
and more. So which
ones work?
What we might call "values" in
the moral sense – are
increasingly being
assessed by clients,
employees and
other stakeholders.
Are we enhancing these
within our
global organizations
and communities for
the "greater
good" and how,
in turn, are these "values" influencing
relationships, choices
and economic value
today?
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John Perry Barlow, Vice
Chairman and Co-founder, Electronic Frontier Foundation
Nathaniel Branden, Author,
The Psychology of Self-Esteem
Peter Dawe, Executive Chairperson,
Oakington Corporation plc.
Rudi Dornbusch, Ford Professor
of Economics and International Management, MIT Department
of Economics
Tom Hazlett, Resident Scholar,
American Enterprise Institute for Public Policy Research
Nalin Kulatilaka, Professor,
Finance and Economics Department, Boston University
Baruch Lev, Professor, Accounting
and Finance, NYU and Director, Vincent C. Ross Institute
for Accounting
Research and Project for Research on Intangibles.
Mario Morino, Chairman,
Morino Institute
Richard W. Rahn, President,
Novecon Management Company and Senior Fellow, Discovery
Institute Author, The
End of Money and the Struggle for Financial Privacy
Pamela Samuelson, Professor,
School of Information Management and Systems, University
of California at
Berkeley
Paul Strassmann, Author,
Information Productivity
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