Makoto Yano, 14 April 2020

Data are the new resource in the modern production process. Building a high-quality market where this resource is shared, distributed, and used requires first establishing its ownership. This column argues that blockchain technology can be harnessed to effectively assign data ownership and develop a healthy cyber ecosystem. Ensuring the rights of individuals who generate data is crucial to preventing unnecessary erosions of market quality. However, forming a healthy ecosystem will not happen spontaneously, and will require careful planning and the expertise from multiple fields.

Kevin Bryan, 10 September 2013

Ronald Coase, an economics Nobel Prize winner, passed away on 2 September 2013. He is best known for stating that transaction costs explain many puzzles in the organisation of society, and that pricing for durable goods presents a particular worry since even a monopolist selling a durable good needs to compete with its future self. This column reviews how these ideas, though often misinterpreted, deeply influenced the thinking of economists.


CEPR Policy Research