A co-utility approach to the mesh economy: the crowd-based business model

Abstract

We explore the mesh economy applications of co-utility, a new concept describing self-enforcing and mutually beneficial interactions among self-interested agents. We show that the crowdsourcing market is naturally co-utile (without additional incentives). Furthermore, we analyze the investment crowdfunding industry and propose solutions that can neutralize the fear and mistrust effects underlying its market in order to make it strictly co-utile. Up on our analysis under the co-utility framework, we corroborate that collaboration is always rationally sustainable, as long as the system is co-utile and that all co-utile outcomes are Pareto-optimal; but not all Pareto-optimal outcomes are co-utile. In addition, reciprocity and hybridity equilibrium are compatible with co-utility in specific cases at which they provide Pareto-optimal outcomes. This methodology of analysis within the framework of co-utility can be extended beyond the crowd-based business models and promises to significantly contribute to economic theory.

Sustainable Financing through Crowdfunding

“…We analyzed the 10 most cited articles on crowdfunding and sustainability ( Table 4). Four of these articles [2,24,51,64] focused on the Kickstarter platform. As noted by Calic, Goran, Mosakowski, and Elaine [2], Kickstarter is unique because it does not allow philanthropic donations.…”

“…Finally, the crowdfunding and sustainability articles that received most citations appear in Table 4. Four of these articles [2,24,51,64] focus on the Kickstarter platform. The fact that Kickstarter does not allow donations with philanthropic ends implies that sustainability in crowdfunding operations need not be linked to philanthropy or donations.…”

“…Therefore, a priori, it would seem to be more closely related to sustainability than any other form of crowdfunding. However, investors are becoming increasingly motivated by other factors, such as philanthropy [51].…”

“…Nigussie, Domingo-Ferrer, and Sanchez, Osmani [51] analyzed the factors that elicited satisfaction and fear in investors because information asymmetries created inefficiencies in the crowdfunding market. They linked sustainability to crowdfunding by focusing on the crowdfunding business model from the viewpoint of co-utility: "Co-utility is a new concept in which the best way of serving one's own interest is to help in one or more other peers' interest fulfillment" [51] (p. 418).…”

Innovations in The Institutional Modelling of The Sharing Economy

“…В таких условиях предпринимательская производительность заметно улучшается благодаря процессам обучения среди коворкинг-пользователей (Bouncken and Reuschl, 2018). Для описания схожих явлений в области финансов используют термин «ячеистая экономика» (mesh economy) (Turi, Domingo-Ferrer and Sánchez, 2017), представляющую новую концепцию взаимовыгодных взаимодействий между агентами, предлагая инструменты для развития доверия в сообществе с тем, чтобы сделать его более кооперированным. Важность развития научного знания о новых формах взаимодействий отмечена и в другой работе (Camarinha-Matos and Afsarmanesh, 2005): как отмечают авторы, в настоящее время накоплен значительный эмпирический материал и теоретические знания, связанные с новыми формами организации (виртуальные организации, виртуальные предприятия, динамические цепочки поставок, профессиональные виртуальные сообщества, совместные виртуальные лаборатории), а создание научного направления для изучения закономерностей является важным инструментом в достижении этой цели.…”