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Alvin Leon Roth

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[review posted on 2018-05-06]

Today I finished re-reading this book. Why re-reading? Because I first read a library copy (in Italian), and while reading it decided that it was worth buying.

Yes, the presentation from Amazon.com gives a fair assessment of the book- but it is worth reading it for other reasons.

New businesses (not just online) nowadays are often built around a concept of "ecosystem"- and many large companies in "mature" industries (automotive, banking, retail) are repositioning themselves as providers of experience and reasons to reinforce belonging to their own ecosystems.

This extended so far that some "traditional" (i.e. pre-Internet) business leaders claimed that their own company in few decades will make more money from services than from their own products- in automotive.

Actually, it is also what I was told about a decade ago from somebody in banking, making more money from real estate and facilities management (including ICT services outsourcing) than from the "bread-and-butter" of retail banking.

But, as in the case for Amazon and AWS, being seen as a serious player within its own "traditional" business was what gave them credibility for the other activities.

Now, in reality any "ecosystem" needs embedded reasons to keep anybody joining it feeling that it is actually a relatively "fair" environment.

Therefore, while the Amazon presentation focuses (as the book title) on decision-making by those joining the market, with the support of few other books could actually be useful as a manual for those that need to design new business ecosystems.

"Market Design" (what this book is about) as well as "motivational and product design" (e.g. see my review of "Hooked" https://www.librarything.com/work/14582334/book/155253259 and "Transformationale Produkte" https://www.librarything.com/work/20694812/book/148511031) require designing something that delivers stable results (that's the operational definition of "fair"- similar amount of resources committed to the market should produce similar results under similar conditions, no bias on results upon who is the player, as otherwise the perception of the market as worth playing in is lost).

And this is also the reason our "level playing field" laws and regulations (e.g. anti-trust)

Now, I have to apologize with the Italian translator: I like to buy books in their original language, but in this case the text was convoluted in Italian- so I assumed that maybe the English original would be better.

Well... The syntax is the same, and, of course, the constant repetition across of the book of whole segments smacks of "copy-and-paste".

Nonetheless, it is useful to remind of something else, that I will leave the author to describe in his own words (page 228):
">>The Language of the Marketplace>Economists as Engineers
… (mere)
½
 
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aleph123 | May 6, 2018 |

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