A good is characterized by network economies if it: becomes more valuable as more people own it. A natural monopoly is a monopoly that arises from: economies of scale.
The network economy is the new economic order emerging from the information society. The name is derived from a key feature: products and services are created and value is added through large or global social networks.
In contrast, in industrial-era economies, ownership of physical or intellectual property stems from its creation by a single enterprise. Business models for capturing ownership rights for value embedded in social network-created products and services are being investigated.
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