Labor and Employment Law Commons^™

The Law And Economics Of Catalyzing Fans, Miriam A. Cherry

Faculty Publications

(Excerpt)

In the past decade new technologies have enabled large groups of people, separated by geographical distance and sometimes even national boundaries, to join together for pursuit of social good or economic gains. For example, we have seen thousands of participants engage in the editing of Wikipedia, contributing their expertise to build a base of knowledge on the web. Charities, artists, and now even for-profit businesses are able to use crowdfunding to raise financial support for their endeavors. Prediction markets allow participants to forecast outcomes of future events, creating incentives for accuracy either through monetary rewards or reputational advantage. Crowdsourcing …