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Money from nothing, and the clicks are free : an investigation into the commodification of non-pecuniary consideration in the Digital Economy
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Reynolds, David (2014) Money from nothing, and the clicks are free : an investigation into the commodification of non-pecuniary consideration in the Digital Economy. In: WMG Doctoral Research and Innovation Conference 2014, WMG, Univeristy of Warwick, 10-11 Jul 2014
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PDF (Powerpoint presentation)
DReynolds 2nd Year PhD Presentation 2014.pdf - Requires a PDF viewer. Download (826Kb) | Preview |
Abstract
Firms are resource integrating actors, which co-create value with the consumer of service. Value co-creation occurs through the consumer’s acceptance of a value proposition afforded by bundles of resources in a specific use context. Service is exchanged for service. Hence, the provider of a service must also receive a value proposition afforded by bundles of resources in a specific use context in return. This is the consideration. In the service for service exchange between provider and consumer, consideration can be viewed as the exchange value. In traditional (single) markets, exchange value manifests as purchase price, and hence the consideration to the firm is money. Consideration does not have to be financial in nature (non-pecuniary). However, if the purpose of a firm is to achieve superior financial performance, at some point a service-providing firm must receive financial consideration. Ideally, the non-pecuniary consideration received as part of one exchange should be integrated into a different exchange e.g. in two-sided markets. This process is the commodification of non-pecuniary consideration or monetization. In the Digital Economy (DE), many types of non-pecuniary consideration are used (e.g. personal data). Despite certain success stories (e.g. Google) monetization is still a challenge for many firms in the DE and it is the purpose of this research to identify why some firms are better at the commodification of non-pecuniary consideration in the DE.
Item Type: | Conference Item (Speech) | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management Q Science > QA Mathematics > QA76 Electronic computers. Computer science. Computer software |
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Divisions: | Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) | ||||
Official Date: | 2014 | ||||
Dates: |
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Status: | Not Peer Reviewed | ||||
Description: | This is a presentation given to the Service Systems Research Group on 23/06/2014 and forms the basis for the presentation at WMG Doctoral Research and Innovation Conference 2014 |
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Conference Paper Type: | Speech | ||||
Title of Event: | WMG Doctoral Research and Innovation Conference 2014 | ||||
Type of Event: | Conference | ||||
Location of Event: | WMG, Univeristy of Warwick | ||||
Date(s) of Event: | 10-11 Jul 2014 |
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