The Future of Digital Democracy by Unknown

Author:Unknown
Language: eng
Format: epub
ISBN: 9783030053338
Publisher: Springer International Publishing

Externalities.

Externalities in economics are consequences of commercial activities and transactions which affect third parties, without this being reflected in the price of the transaction. However, more generally, there are many externalities that are consequences of social and commercial interactions that contribute towards successful knowledge alignment (i.e. acting on the outcomes of knowledge aggregation to achieve an intended outcome). This includes norms for coordinating expectations [53], social capital [38], reputation and economies of esteem [4], and leadership (de jure or de facto) [35], all of which can contribute to successful collective action.

An algorithmic framework for representation and reasoning with electronic social capital has been developed and implemented [36]. This solution could be embedded into socio-technical systems to incentivise collective action without commodifying the qualitative pro-social properties of social capital which would reduce its effectiveness to the same level as financial leverage.

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