Contracts in Cyberspace

phutureboy writes "In his online Journal of Interesting Economics, economist David D. Friedman (son of Nobel laureate Milton Friedman) presents some interesting ideas about the enforcement of contracts in cyberspace. The gist is that he sees a gradual shift away from public enforcement of contracts (i.e. government courts) to private enforcement (e.g. third party arbitration, reputationial enforcement). The rest of his site is interesting as well - he even has an archive of his open-source economics software, which includes a neat trading simulation game called Hansa."

Comments

The best trading game I ever played was...

[The Original Yama]

...Taipan, a game where you ran a trading vessel in the South China Sea. It ran on my primary school's old Microbee computers (yay!). It was written in BASIC, so myself and my friends would go through the source and change all the items and places. In my game, you travelled to ports like Manilla and traded whores. Aaah, fifth grade! I wish I could go back...