Anthony J. Pennings, PhD

WRITINGS ON DIGITAL ECONOMICS, ENERGY STRATEGIES, AND GLOBAL COMMUNICATIONS

Characteristics of Economic Goods and their Social Implications

Market theory is based a standard model where products are brought to market and are bought and consumed by an individual buyer, whether an individual or a more corporate environment. But some products are misbehaving economic goods. A variety of goods do not fit this economic model and as a result present a number of problems for economic theory, technological innovation, and public policy.

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.

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  • About Me

    Professor at State University of New York (SUNY) Korea since 2016. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, digital economics, and strategic communications.

    You can reach me at:

    apennings70@gmail.com
    anthony.pennings@sunykorea.ac.kr

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  • Disclaimer

    The opinions expressed here do not necessarily reflect the views of my employers, past or present.