The network(ed) economy

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Modern communication channels and new electronic media standards are continually transforming traditional interaction patterns among humans and machines in a globalized, networked world. Effective communication is crucial for managing inter-organizational cooperation and business information flows, making widely accepted electronic communication standards vital for reducing transaction costs. Roman Beck's dissertation explores the significance of diffusion theory and network effect theory, which have previously been discussed independently. He not only connects these theories epistemologically but also enhances them by introducing a network diffusion model. Central to this model is the "network effect helix," which illustrates the dynamic interplay between direct and indirect network effects to simulate the diffusion patterns of communication standards. Beck's analysis emphasizes the critical diffusion period between the launch of a new communication standard and the achievement of a critical mass of adopters, should the diffusion be successful. His findings and the title of his thesis effectively capture the essence of his research, situated between an incompletely interconnected "networked economy" and a fully interconnected "network economy."