transaction costs coase internet

Interestingly, the Journal of Strategic Information Systems recently selected a paper on this topic for the best paper award Schermann et al. It is only recently that enterprise-grade products like the PrivacyRight TrustFilter have emerged that allow organizations to create and enforce privacy policies and other customer-specific data contracts consistently throughout their enterprise. Their existence implies that methods of co-ordination alternative to the market, which are themselves costly and in various ways imperfect, may nonetheless be preferable to relying on the pricing mechanism, the only method of co-ordination normally analysed by economists. Anding, M. Given the proper ability to control such "speech" using property rights, individual consumers would be in the position to resolve the problems created by this externality at the lowest possible cost.

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