The Network Economy
In this chapter, the concept of the network economy is expounded. The idea of a network economy allows fundamental aspects of the new economy to be integrated into one single (organizational and managerial) concept. The information technology revolution has resulted in the development of advanced infrastructural technological networks. These networks enable and induce global communication and information sharing at decreasing cost and at an increasing speed. Knowledge is being transferred through these interconnected ICT applications and it can be said that, taking into account the prominent place of knowledge in the new economy, it functions as the glue that holds networks together.
KeywordsExpense Smoke Arena Volatility Kelly
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