Coordination problems in cryptomarkets: Changes in cooperation, competition, and valuation
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Coordination problems in cryptomarkets : Changes in cooperation, competition, and valuation. / Bakken, Silje Anderdal; Møller, Kim; Sandberg, Sveinung.
I: European Journal of Criminology, Bind 15, Nr. 4, 12.2017, s. 442-460.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Coordination problems in cryptomarkets
T2 - Changes in cooperation, competition, and valuation
AU - Bakken, Silje Anderdal
AU - Møller, Kim
AU - Sandberg, Sveinung
PY - 2017/12
Y1 - 2017/12
N2 - The new drug markets emerging on the dark net have reduced earlier drug market risk factors such as visibility and violence. This study uses economic sociology and transaction cost economics to broaden the present understanding of cryptomarkets. Results focus on three coordination problems characterizing illegal markets and how they are alleviated in cryptomarkets. More information and better visibility increase competition, the feedback system enforces cooperation and border control introduces a new cost influencing valuation. Cryptomarkets are formally structured and regulated by rules of conduct and centralized decisions. We argue that the online context circumvents earlier coordination problems in illegal markets, making dark net markets more structurally efficient compared with conventional drug markets.
AB - The new drug markets emerging on the dark net have reduced earlier drug market risk factors such as visibility and violence. This study uses economic sociology and transaction cost economics to broaden the present understanding of cryptomarkets. Results focus on three coordination problems characterizing illegal markets and how they are alleviated in cryptomarkets. More information and better visibility increase competition, the feedback system enforces cooperation and border control introduces a new cost influencing valuation. Cryptomarkets are formally structured and regulated by rules of conduct and centralized decisions. We argue that the online context circumvents earlier coordination problems in illegal markets, making dark net markets more structurally efficient compared with conventional drug markets.
KW - Faculty of Health and Medical Sciences
KW - cryptomarkets
KW - Economical sociology
KW - Cryptomarket
KW - dark net
KW - drug market
KW - economic sociology
KW - illegal drugs
KW - transaction cost
KW - economics
U2 - 10.1177/1477370817749177
DO - 10.1177/1477370817749177
M3 - Journal article
VL - 15
SP - 442
EP - 460
JO - European Journal of Criminology
JF - European Journal of Criminology
SN - 1477-3708
IS - 4
ER -
ID: 208856730