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Strategies for a discontinuous future.












Thursday, August 26, 2004
 


David Friedman's posted a cool new paper:

"...The central thesis of this article is that, for contracts in cyberspace in the future, public enforcement will work less well and private enforcement better than for contracts in realspace at present. A secondary thesis is that while the factors that make public enforcement less workable in cyberspace will not apply to contracts in realspace, the factors that make private enforcement more workable will. Hence we can expect some shift from public to private mechanisms for enforcing both realspace and cyberspace contracts, although the shift should be larger for the latter."

This is essentially what our network licenses are about - massively multilateral contracts that are private mechanisms to redistribute the gains from replication. (Via...my Dad).

-- umair // 7:18 PM //


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