Blockchain systems have been widely adopted in today’s society, with consensus algorithms serving as their core component to ensure all participants in the network agree on a specific data state. Existing consensus algorithms such as Proof of Work (PoW), Proof of Stake (PoS), and the Practical Byzantine Fault-Tolerant Algorithm (PBFT) exhibit certain limitations in terms of scalability, security, and efficiency. To address these limitations, this paper proposes a novel Network-based Reputation Consensus (NRC) algorithm. The main research contributions of this work include the following: (1) An intelligent grouping mechanism that dynamically groups nodes based on network awareness, forming consensus groups with low internal latency and high bandwidth utilization, significantly reducing intra-group communication overhead. (2) A dynamic reputation system incorporating a “diminishing returns” reward function and a “multiplicative penalty” mechanism, effectively incentivizing honest node participation while preventing power monopoly. (3) A two-phase model of “intra-group BFT consensus + global communication committee ordering” that decomposes complex global consensus into parallel intra-group processing and coordination among a small set of elite nodes, thereby drastically improving efficiency. (4) Comprehensive simulations comparing the NRC algorithm with mainstream consensus algorithms, demonstrating its superior performance in communication overhead, throughput, latency, and tolerance to malicious nodes, thereby laying the foundation for large-scale applications.

Purpose This paper aims to examine the optimal charging station construction cooperation strategy in promoting the use of electric vehicles (EVs) and achieve green and sustainable development, the government has provided subsidy incentives for the installation of charging stations by new energy vehicle manufacturers. At the same time, in practice, many competitive new energy vehicle manufacturers collaborate to jointly build charging stations. Therefore, understanding how the government’s subsidies interact with the collaborative relationships between competing manufacturers is an important issue in the EVs field. Design/methodology/approach By constructing a game theory model, this study explores the charging station construction cooperation strategies of competitive manufacturers, including non-cooperation and cooperation through revenue sharing or investment cost-sharing between both parties. Findings The findings suggest that independent construction suits smaller firms with limited investment capacity, while revenue-sharing collaboration is ideal for firms with diverse business types. Investment cost-sharing collaboration is better for firms with limited capabilities but growth ambitions. From a government perspective, to maximize charging station construction, larger subsidies and encouraging revenue-sharing collaboration among diverse firms are recommended. To prevent market monopolies, promoting investment cost-sharing collaboration between small and large firms is more effective. Originality/value This study provides a correct understanding of the feasibility of the new energy subsidy policies currently implemented in China, particularly offering a theoretical foundation for charging station cooperation strategies.

Managing network traffic with discriminatory strategies: A study of zero-rating in an Internet market monopoly

This research is motivated by the issue of goods circulation policy in the market. Although this is an important aspect in maintaining market balance and economic justice, it still causes problems. However, the control of goods circulation from the perspective of fiqh muamalah and Ibn ‘Asyur’s Maqasid Syariah stems from the imbalance between the interests of producers, traders, and consumers, which triggers hoarding (ihtikar), market monopoly, and instability in the prices of basic commodities. The method used is qualitative research with a literature review approach through the analysis of Ibn ‘Asyur’s works and classical and contemporary muamalah fiqh literature. The aim is to explain the principles of Shariah in regulating the flow of goods and to formulate a concept of fair market control. The benefits are expected to form the basis for the formulation of Sharia-based economic policies that guarantee public welfare. The results of the analysis show that, according to Ibn ‘Asyur, the control of the circulation of goods must be directed at maintaining sustainable access to the needs of the community, preventing economic injustice, and upholding the principles of hifz al-mal (protection of property) and equitable distribution. Therefore, controlling the circulation of goods is not only an economic aspect, but also an instrument for realising social justice in accordance with the main objectives of sharia for the achievement of mutual prosperity.

Antitrust has adopted the “marketplace of ideas” from the First Amendment. The essence of this standard is that people should rationally demand the truth, thereby causing accurate information to overcome falsehoods without antitrust’s help. This has, though, produced an odd approach in which antitrust promotes the flow of information without any regard for its truthfulness. Indeed, antitrust courts have ruled that misinformation’s remedy must come from more speech as opposed to enforcement. Judges have also asserted that misinformation is a form of competition, versus an anticompetitive act, because aggrieved companies can win over consumers by exposing their rivals’ lies. In fact, antitrust refuses to scrutinize whether misinformation entails a consequence of monopoly power, despite the prevalence of inaccurate content in concentrated markets like journalism, digital platforms, and more. That said, what if people consume information in ways that defy antitrust’s expectations? Whereas antitrust refuses to remedy misinformation because consumers should rationally consume truthful information, perhaps people may actually prefer misinformation. This Article delves into cognitive and behavioral scholarship to explain why misinformation thrives in voids of competition. It shows that people become increasingly likely to demand misinformation in (1) rational and (2) irrational ways when competition declines. First, cognitive biases and conditions such as anxiety and depression have not only spurred people to find comfort in misinformation but to do so where they irrationally accept costs including, say, incarceration, sickness, or unemployment. This is especially prevalent in the absence of journalism, as dominant platforms can flood users’ feeds with misleading content meant to induce anxiety, enrage, comfort, and grab attention. Second, espousing misinformation can qualify as rational when it allows a person to join a community, find purpose, or maximize their welfare. These dynamics help to explain why misinformation has exploded in rural areas, news deserts, and informational monopolies where social isolation is greatest and credible news has dried up. Given misinformation’s prevalence in concentrated markets, the answer should come from more competition rather than just more speech. Knowing that antitrust law redresses inefficiencies caused by monopolies and trade restraints, enforcement should begin to treat misinformation as a market failure. When anticompetitive conduct creates a bottleneck of information, monopolists can generate revenue from filling voids with false and misleading content. Because monopoly power creates incentives to spread misinformation, and people become especially prone to believing falsehoods when living in a news desert, antitrust could attack the market structures that enable misinformation. Not only would this approach foster accurate information without entering unconstitutional waters like forcing a news organization or website to publish both sides of a debate, but it could better align antitrust with the First Amendment. To do so, antitrust must first assess why monopolies, news deserts, and informational vacuums impede “rational actors” from consuming truthful content. In fact, this research would help to inform recent developments, as the White House, Supreme Court Justices, subcommittees of the House of Representatives, Federal Trade Commission, and more have begun to debate antitrust’s evolving treatment of speech, information, and misinformation.

Global e-commerce has become a significant force driving economic growth. The e-commerce industry plays a crucial role in promoting consumption, optimizing resource allocation, reducing transaction costs, fostering industrial innovation, and creating employment, but it also poses challenges such as market monopoly, structural unemployment, and tax supervision difficulties. Based on the background of China's rapid e-commerce development, this paper employs a combination of authoritative data and policy analysis to examine the economic significance of e-commerce growth. It also enumerates and analyzes various problematic practices in Chinese e-commerce practices (such as Pick One from Two, Big Data Price Discrimination, and Algorithmic Bias) from an economic principles perspective. The paper systematically evaluates the impact of China's e-commerce development on economic structure and employment. It recommends measures including improving the anti-monopoly mechanism, strengthening vocational skills training, and innovating the establishment of a digital tax collection and management system. These measures aim to promote the deep integration of e-commerce with the real economy and provide references for economic transformation in the digital era.

The study aims to analyze whether the doctrine of trademark dilution has provided corrective justice or otherwise, so that the balance of rights for trademark owners can be fulfilled.The methods used in this study are normative or doctrinal legal research methods. The research approaches used are legislative, conceptual, case-based, and comparative approaches.The novelty of this research lies in the perspective of corrective justice in analyzing court decisions related to dilution actions. This research is expected to contribute to further research and policy recommendations for the government and judges to produce regulations and decisions that are fair to trademark owners.The results of the comparative law study show that anti-dilution regulations in the United States are comprehensively regulated, but there are shortcomings in the courts. Court decisions regarding well-known trademarks are considered detrimental and do not restore the rights that have been violated. In fact, the main purpose of dilution is to provide legal protection for well-known trademarks. Indonesia itself has not yet fully regulated anti-dilution regulations.The concluded findings of this comparative legal study serve as a lesson for Indonesia so that future regulations can take into account the balance of rights between well-known trademarks and other trademarks in order to avoid market monopoly.

Abstract This paper updates the explanation of the share of profits in national income in my 1975 book, A Theory of Profits. The theory relates the profit margins of firms to their needs to generate internal finance for investment. Changes in business motives and the financial system have altered this relationship, especially for firms with monopoly power, requiring the theory to be updated. The updated theory could explain the widespread recent increase in the profit share and decrease in the wage share, though with some modification of its policy implications. The paper includes a detailed account of how the 1975 book was shaped by an outstanding past generation of Cambridge economists.

Abstract The COVID-19 Pandemic exposed the fragility of the global public health regime (N Jensen et al, ‘The COVID-19 pandemic underscores the need for an equity-focused global health agenda’ (2021) 8 Humanit Soc Sci Commun 15.). Never before in history, we had a vaccine for an ongoing pandemic which the majority had no access to. Even prior to the pandemic, the global public health regime was showing signs of vulnerability manifested by the rising costs of medicines and public health expenditure levels, increased levels of legal monopolies exasperated by originator drug manufacturers activities and the widening gap between those who can afford medicines and therapeutic treatments, and those who can’t, even for those residing in developed countries (M El Said, ‘The Global IP Response to COVID-19 Pandemic: A Tale of Several Ironies?’ (2022) 19 MJIEL 79–91.). In fact, global spending on pharmaceuticals is forecast to exceed pre-pandemic outlook to $1.2 trillion by 2028 (IQVIA, The Global Use of Medicines 2024: Outlook to 2028 (2024). Available at https://www.iqvia.com/-/media/iqvia/pdfs/china/viewpoints/iqvia-institute-general-use-of-medicines-2024-for-print.pdf (accessed 22 July 2024).). At a time when the world started to recover from the negative impact of the COVID-19 Pandemic, fears about the potential arrival of a new pandemic arising from the outbreak of Mpox in Africa started to emerge thus putting more strain on public health providers everywhere. Many reasons may be attributed to the failure of addressing the public health needs of the majority at the global level; however, one of the main factors related to this is the role patent protection and regulatory approvals play in imposing market barriers and monopoly exclusivities on drugs and medicines. In more recent years, the role of data exclusivity restrictions and patent linkage mechanisms became apparent and a vital component of this debate. The significance of this paper is demonstrated by the policy reform options it is advancing. This paper provides a review of the challenges posed by data exclusivity restrictions and patent linkage mechanisms and will propose policy recommendations and approaches in order to mitigate the negative impact on public health and access to medicines arising from patent linkage and data exclusivity protection. The paper will rely on specifically selected country case studies to demonstrate the feasibility of achieving such objectives.

Platform capitalism has become the dominant paradigm of the digital economy, with user data becoming the primary source of value extraction. Within this paradigm, platforms precisely capture fragmented data such as users' browsing history, consumption preferences, and social interactions. With the rise of data-centric digital infrastructure, platforms have not only transformed markets but also labor patterns, social behavior, and identity. At the market level, platforms have broken the temporal and spatial constraints of traditional transactions, building decentralized supply-demand matching networks. However, they have also created new market monopolies by setting rules and extracting commissions. This article draws primarily on Nick Snicek's concepts, supplemented by sociological theories such as Granovetter's embeddedness theory and McLuhan's "electronic age," to explore how platforms operate not only as market participants but also as embedded sociotechnical institutions. Snicek's theory of "platform capitalism" reveals how platforms achieve comprehensive economic penetration through the integration of data, capital, and technology. This article examines how platforms commoditize user behavior, reshape individual identities, and, through algorithmic governance, reinforce new forms of social inequality. Every user's search, share, and stay is transformed by the platform into a data commodity, sold to advertisers or used to optimize algorithms, while users themselves struggle to gain access to the data's benefits. This article argues that platform capitalism has reshaped labor and identity, and future research could focus on worker subjectivity and digital resistance.

Platform capitalism has become the dominant paradigm of the digital economy, with user data becoming the primary source of value extraction. Within this paradigm, platforms precisely capture fragmented data such as users' browsing history, consumption preferences, and social interactions. With the rise of data-centric digital infrastructure, platforms have not only transformed markets but also labor patterns, social behavior, and identity. At the market level, platforms have broken the temporal and spatial constraints of traditional transactions, building decentralized supply-demand matching networks. However, they have also created new market monopolies by setting rules and extracting commissions. This article draws primarily on Nick Snicek's concepts, supplemented by sociological theories such as Granovetter's embeddedness theory and McLuhan's "electronic age," to explore how platforms operate not only as market participants but also as embedded sociotechnical institutions. Snicek's theory of "platform capitalism" reveals how platforms achieve comprehensive economic penetration through the integration of data, capital, and technology. This article examines how platforms commoditize user behavior, reshape individual identities, and, through algorithmic governance, reinforce new forms of social inequality. Every user's search, share, and stay is transformed by the platform into a data commodity, sold to advertisers or used to optimize algorithms, while users themselves struggle to gain access to the data's benefits. This article argues that platform capitalism has reshaped labor and identity, and future research could focus on worker subjectivity and digital resistance.

The rise of extraordinary digital platforms raised issues of monopolistic behaviours, market concentration, and digital ecosystem power balance, which complicated economic liberty protection in the digital age by compromising economic freedom, such as fair competition, innovation, and customer care. This paper focuses on the Digital Competition Bill from India 2024, a crucial piece of legislation that attempts to lure the digital market monopolies from threats and culminate in a model of economic liberty in a digital economy. The bill aims to regulate “gatekeeper” platforms, those huge digital companies that lead access to markets and services across the Internet, against a number of anti-competitive practices, including self-preferencing, exploitation of data, and restrictive business terms brought into the picture for the benefit of another party. Such an act of practice mostly cuts off the competition, disallows minimum market access for small entities, and hampers the overall consumer experience. The Digital Competition Bill, therefore, seeks to create a level regulatory field for large and small representatives in the marketplace so that innovation and abuse of access to digital opportunities are promoted. The paper will also examine in detail how this particular law on digital competition, the Digital Competition Bill, mentioned above, helps create a conducive digital market environment to realize economic liberty for companies, small and big. This study argues that a Digital Competition Bill can change the country’s approach to regulating digital market competition, provide an adequate framework for fostering economic liberty in digital markets.

Corruption in government services has become a relevant topic of study. This study examines the possibility of corruption in Liberian government services. Previous analyses are still limited to identifying the specific possibilities driving corruption in government services in developing countries. This study uses a qualitative method with a case study approach guided by the Corruption Formula theory across three indicators: monopoly of power (M), discretion by officials (D), and lack of accountability (A), expressed as C=M+D-A. PPrimary data were collected through in-depth interviews with key informants. Secondary data were collected from documentation, journals, newspapers, etc., and analyzed using NVIVO 12 Plus software. The findings revealed the following: (1) service providers have a high monopoly over services, as they often use their dominant positions for personal gain; (2) there is a lot of discretion by officials, giving them the freedom to manipulate systems and engage in illicit activities without clear oversight; and (3) there is limited accountability to hold individuals and institutions answerable for their actions, as officials constantly engage in wrongdoings without facing legal consequences. This study closes the gap in understanding corruption in government services with evidence from Liberia, emphasizing the need for policymakers to enhance the integrity of public services.

Abstract: In the second half of the nineteenth century, markets for agricultural commodities became far more integrated than ever before, but they also created new sources of conflict. The same forces that drove trade integration also led to financialization, the monopoly power of transport companies, and speculation based on information asymmetries. Historiography has identified these issues as crucial in fueling various mixes of nationalist resentment, anti-globalization rhetoric, and protectionist demands among agriculturalists in North America and Europe. This article shows that, instead, in the early twentieth century, agriculturalists and governments across the Atlantic (and beyond) reacted to the emergence of the world market by fostering international cooperation to reorganize trade and make it more transparent and fair. Rejecting the proposal advanced by the American David Lubin to create an international farmers’ union (for farmers by farmers), governments of major world powers agreed to establish the International Institute of Agriculture as the provider of global crop reports. By looking at the early years of the Institute through the prism of the history of quantification, we show how information thus emerged as a global public good and a fundamental element in the infrastructure of world agricultural markets.

The repurposing of retired power batteries is the main feature that distinguishes batteries from general products in reusing. Most existing studies have not incorporated the repurposing rate as a decision-making variable, nor have they adequately examined the competitive dynamics of the repurposed battery market. To address this gap and enhance understanding of how repurposing influences new power battery production across different market conditions, we determine the optimal production levels for new batteries and the optimal repurposing rates of retired batteries under four distinct scenarios. These scenarios consider two key factors: the competitive structure of the repurposed battery market (monopoly versus duopoly) and the entities responsible for repurposing (either the original manufacturer or an external third party). Our results show that: (1) When the repurposing rate is unconstrained, the optimal production of new batteries is unaffected by the repurposing; conversely, repurposing can lead to an increase in new power battery production. (2) It is not always beneficial to repurpose all retired batteries deemed suitable for such processes. (3) When the manufacturer undertakes the repurposing of retired batteries, as opposed to a third party, the production of new power batteries increases, provided that the optimal repurposing rate is not constrained. (4) Contingent upon market conditions for decommissioned batteries, the third party or the manufacturer may establish an elevated repurposing rate. This study advances the understanding of the interactions between repurposing, recycling, and new power battery production, offering insights into optimal decision-making in various competitive and operational contexts.

Abstract This paper reports on a simple method to fabricate Pb(Zr, Ti)O3 (PZT) thin films with a composite structure, where monocrystalline (mono) PZT is segmented by elongated polycrystalline (poly) mesh patterns. The motivation of this study is to overcome the inherent mechanical brittleness of piezoelectric mono thin films by adding a poly PZT pattern to the mono thin film. First, an SrRuO3 epitaxial buffer layer for the PZT was modified into a mesh pattern by wet etching. PZT was then sputter-deposited onto it. The analytical results of the deposited thin film showed that this method can be used to fabricate mono–poly composite thin films. This achievement leads to the ease of fabricating piezoelectric thin films with a third crystal structure, which is neither poly nor mono, and has the potential to create a new thin film with moderate properties that are a balance between those of mono and poly thin films.

Abstract In a simple lending model with informational asymmetry, we investigate the effect of bank market structure on the amount of collateral provided by firms. We analyze the strategic decision of a potential entrepreneur regarding the amount of wealth to pledge as collateral to secure a loan. The novel result is that the equilibrium collateral can be lower in a monopoly market than under perfect competition. A policy intervention designed to enhance lending is always Pareto‐improving in a monopoly but not in a competitive banking industry, even though the associated policy costs are lower in the latter setting.

Background and Aim: The platform economy has emerged as a significant force reshaping capitalist political systems through power concentration and data monopolization. This study aims to examine the systemic impact of platform enterprises on political democracy, focusing on how technological dominance and network effects transform traditional democratic mechanisms. Materials and Methods: The research employs an interdisciplinary approach combining legal analysis and Marxist political economy perspectives to examine platform power concentration, data monopolization, and their effects on democratic participation. The study analyzes algorithmic governance, information filtering systems, and their impact on public opinion formation. Results: The analysis reveals that platform enterprises have acquired unprecedented political influence through: (1) market monopolies enabled by technological dominance; (2) control over public opinion through algorithmic governance; (3) data monopolization creating severe information asymmetries; and (4) establishment of new production relations through data control, fundamentally altering political power distribution. Conclusion: Addressing democratic dysfunction in the platform economy era requires multi-tiered institutional innovations, including enhanced data protection laws, anti-monopoly measures, and transparent algorithm governance. A collaborative governance model involving diverse stakeholders is essential for balancing platform development with democratic values.

The financial sector plays a pivotal role in fostering economic stability. Nevertheless, when compared to other countries, the credit risk associated with conventional commercial banks in China remains a notable concern. This study employs the Generalized Method of Moments (GMM) to examine this issue by analyzing data from 114 Chinese banks over the period from 2014 to 2021. The empirical evidence suggests that digital transformation has a significant and dynamic impact on reducing credit risks associated with banks. Additionally, market concentration appears to play an interactive role in this process. As market concentration increases, the risk-reducing effect of digital transformation is likely to diminish. Heterogeneity analysis shows that the impact is stronger in small and medium-sized banks, indicating that digital transformation has higher marginal governance benefits for banks with limited resources and capabilities. Subsequent interactive regression analyses indicate that bank market concentration significantly moderates the relationship between digital transformation and credit risk. In environments characterized by high market concentration, particularly among small banks, digital transformation exerts a more pronounced mitigating effect on non-performing loans. Conversely, in large banks, excessive market concentration may diminish the efficacy of strategic digitalization. Thus, banks may gain advantages by using market concentration to improve risk mitigation and achieve more precise risk evaluation. Policymakers ought to augment market regulation to guarantee a just competitive landscape, avert market monopolies, foster increased competition, and eventually mitigate credit risk.

The research aims to find out the problems in the farming community in Pangalengan Bandung West Java Indonesia, to be analyzed as data in developing e-commerce applications as a solution and an effort to increase farmers' income. With qualitative methods, data is obtained through in-depth interviews (semi structured). Through descriptive analysis (5W+1H), the data was processed into an e-commerce design brief using object-oriented approach with System Development Life Cycle Prototyping method. The results showed that low agricultural product prices, market monopolies, and distribution difficulties have led to the decline of agriculture as a job choice. Creating e-commerce-based marketing networks is expected to improve marketing outcomes through competitive prices, shorten the distribution chain, and make agriculture a promising job once again for them. The impact is that farmers are starting to be able to independently market their products, cut the long chain of marketing and also.