# Strategy for Information Markets/Glossary
## Club Good

    a good/service that is excludable and non-rivalrous

## Common Good

    a good that is rivalrous and excludable, such as fish stocks, timber, or coal

## Compatibility

    the ability of information goods to perform together productively

## Complement

    a good with a negative cross elasticity of demand, meaning the good's demand is increased when the demand of another good is decreased

## Coordination Game

    a class of games with multiple pure strategy Nash Equlibria in which players choose the same or corresponding strategies

## Copyright

    a form of legal protection of authors and creators of "original works of authorship" which are fixed in specific forms of expression

## Copyright Infringement

    any violation of the rights secured by a copyright

## Darknet

    any private, distributed P2P filesharing network, where connections are made only between trusted peers using non-standards protocols and ports

## Demand Equilibrium

    state in which market supply and demand balance each other and prices become stable

## Digital Rights Management

    a class of access control technologies that are used by hardware manufacturers, publishers, copyright holders, and individuals with the intent to limit the use digital contact undesired by the content provider

## Discrete Choice

    gives the consumer options between two or more discrete alternatives

## E-Commerce

    buying and selling of products or services over electronic systems. Most major retailers now have websites, and some, such as Amazon, don't even have brick-and-mortar stores anymore and hold all transactions online

## Economies of Scale

    the cost advantages that an enterprise obtains due to expansion

## Elasticity of demand

    the responsiveness of quantity demanded to a change in something (usually prices)

## Excludable Good

    a good that is possible to prevent people from accessing it

## Experience Good

    a product or service where product characteristics, such as price or quality, are difficult to observe in advance, but that can be ascertained upon consumption

## Externality

    a cost or benefit not transmitted through prices that is incurred by a party who did not agree to the action causing the cost or benefit

## First Mover Advantage

    rewards the first supplier to bring a new good or service to the market

## Forking (the standard)

    the division of a network into two or more parallel networks

## Freemium

    online video games that do not require a time-specific subscription in order for the consumer to take part. Often users are granted the option to expand the gameplay through purchase of advanced content of the game

## Google Adsense

    an advertising prgram that can give website owners advertising revenue by placing advertisements on their own websites

## Idle Screen Advertising

    through a third party, utilizers are offered a discount on their phone bill in exchange for the agreement to allow advertisements to run on their screen while their phone is idle

## Information Good

    a good which can be recreated with minimal marginal cost and that cannot be used up

## Intellectual Property

    protects the rights over the product for a set amount of time. This allows the developer a chance to earn enough profit to cover the development costs, after which the work becomes a public domain

## Learning Economies

    knowledge is the crucial resource and learning is the most important process

## Localization

    the process in which a business adapts their product or service for use in the specific market being targeted

## Lock-in

    when the consumer has too much negative gain by way of process of switching to make it worthwhile to in fact change their format or upgrade

## Micropayment

    a financial payment system in which a low per-unit price is offered to consumers, enticing consumers to purchase multiple amounts or items

## Natural Monopoly

    a condition on the cost-technology of an industry whereby it is most efficient for production to be concentrated in a single firm

## Negative Feedback

    when the output of a system acts to opposite changes to the input of the system

## Network Externality

    effect that one user of a good or service has on the value of that product to other people. Effects can be good or bad.

## Patent

    permits that anything created using a labor and/or cost-intensive development procedure will be guaranteed the right to exist without competition until the developer can profit from their own creation

## Path-Dependence

    process in which a set of events can determine the final market outcome; similar to the 'bandwagon effect'

## Pecuniary Externalities

    operates through prices rather than through real resource effects

## Playstation Network (PSN)

    an online multiplayer gaming and digital media delivery service provided/run by Sony Computer Entertainment

## Portals

    most generally considered to be websites that provide access to information, services, and other websites

## Positive Feedback

    a situation where some effect causes more of itself; the strong get stronger, the weak get weaker

## Price Discrimination

    a legal attempt by a producer or seller to charge a different price to various groups or individuals for the same product, based on consumer willingness to pay

## Price taker

    a buyer or seller in a competitive market who is unable to affect the market price

## Private Good

    a good that is excludable and rivalrous; examples could be food, clothing, or cars

## Public Good

    a good that is non-rivalrous and non excludable. Examples include air, national defense, or public parks

## Malware

    short for malicious software, malware is software designed to disrupt computer operation, gather sensitive information, or gain unauthorized access to computer systems. Recently, analysts have started predicting that cell phones will be targeted with malware the same way the PC market has

## Two-Part Tariff

    set a base cost for consumers, then provide the good or service at a per unit price

## Regional Lockout

    the programming practice, code, or physical barrier used to prevent the playing of media designed for a device from the country where it is marketed on the same version of the decide marketed in a different country

## Search Engine Optimization

    the process of increasing the visibility of a website by obtaining a search result from a search engine

## Secondary Gaming Markets

    markets which function in an online game outside the developer's intention for the game. These markets involve exchanges of real monetary funds between consumers for in-game goods or game-related goods

## Sponsor

    individual or group that provides support an direction for a market

## Switching Costs

    when a new product is introduced to the market, and consumers left with inferior products must decide whether or not it is worth it for them to buy the new technology

## Tippy Markets

    when a market can easily tip in favor of oen firm over the others. Causes be a lack of desire for variety, strong demand-side economies of scale, and strong supply-side economies of scale

## Two-Sided Markets

    a market with two distinct user groups that provide each other with network benefits. For example, markets include credit cards that benefit cardholders and merchants

## Value Mapping

    the act of identifying each individual process and timeline that it will take to get the product from the business to the consumer

## Versioning

    the creation and marketing different versions of a given product that are catered to match differing values of different consumer demographics

## Virtual Economy

    an emergent economy exiting in a virtual persistent world, usually exchanging virtual goods in the context of an internet game

## Vaporware

    a product, typically computer hardware or software, that is announced to the general public but is never actually released nor officially cancelled

## X-Box Live

    online multiplayer gaming and digital media delivery service created and operated by Microsoft Corporation