Crowdsourcing
1 June 2006 at 12:30 pm Peter G. Klein 1 comment
| Peter Klein |
Combine increasingly thick markets for key inputs, rapidly declining costs of producing these inputs, and low transaction costs of organizing suppliers, and what do you get? Crowdsourcing, in which individual web users, mostly amateurs, compete to supply cheap inputs. Tim Swanson offers links and commentary at the Mises Blog. (A "wisdom of crowds" reference gives me a chance to plug the extremely interesting book by my college classmate Jim Surowiecki, The Wisdom of Crowds.)
Entry filed under: - Klein -, Management Theory, Strategic Management.
Organizations and Markets 
1.
Bo Nielsen | 1 June 2006 at 2:21 pm
Very cool! And it you hurry up, you can be the first to use this term in academia!
Seriously though – getting closer to perfect competition?