Anthony J. Pennings, PhD

WRITINGS ON DIGITAL STRATEGIES, ICT ECONOMICS, AND GLOBAL COMMUNICATIONS

Characteristics of Economic Goods and their Social Implications

In a previous post, I wrote about how media products can be considered “misbehaving economic goods” because most don’t conform to the standard product that is individually owned and consumed in its entirety. Economics is mainly based on the assumption that when a good or service is consumed, it is used up wholly by its […]

Those Media Products are Misbehaving Economic Goods

Bad, bad media. Or so economists would have us believe. Media and information products just don’t fit the mold, or should I say, model. Most economic thinking is based on models that make simple assumptions about the types of goods and services that are produced and purchased. Economists like their tight little models and the […]

Media Content as a “Public Good”

Share Tweet Media products are sometimes referred to as “public goods” because these products are not significantly “used up” in the process of consumption, and each additional user incurs little additional (marginal) cost. Unlike traditional products like a hamburger that is bit into, chewed, swallowed, and digested, media content is generally not destroyed while being […]

Some Economics of Social Media

I say communication because while social media often involves media content, it adds a new dimension by giving users a voice either through user-generated content or/and its ability to critique, review, and comment on that content.