Ronald Coase, théorie de l'agence

Ci dessous un texte écrit pas mon camarade Daniel Toure sur la théorise de l’agence de Coase, le web2 et la bourse. La suite de mon texte sur boursorama 2.0 arrivera avant le mois d’aout…

En 1937, Ronald Coase publie une étude qui va bouleverser les sciences économiques.

Lors d’un échange de biens ou de service, les acteurs se heurtent fréquemment à l’asymétrie d’information entre l’acheteur ou le vendeur.

Est-ce que le vendeur dit bien la vérité sur cette voiture d’occasion ? Ou est ce qu’il cache des informations cruciales à l’acheteur.

Est-ce que l’acheteur d’un contrat d’assurance dit bien la vérité sur la sécurité incendie de sa maison ou est ce qu’il cache des éléments cruciaux au vendeur du contrat d’assurance ?

Est-ce que le vendeur d’une Sicav dit bien la vérité sur les performances de son produit ou est ce qu’il cache des éléments cruciaux à l’acheteur ?

Cette asymétrie d’information entre l’acheteur et le vendeur, ses conséquences et les stratégies employées pour limiter leurs conséquences sont maintenant étudiées depuis plus de 50 ans par la théorie de l’agence.

Cette dernière classe les stratégies pour réduire l’asymétrie d’information ou ses conséquences en deux grandes familles :

• La réputation. Est-ce que le vendeur ou l’acheteur a une bonne réputation ? Cela peut être une marque pour les grandes entreprises et/ou le bouche à oreille pour les petits artisans. Cela a peut être des guides d’achat (études de d’associations de consommateurs, guides de voyage) notant les différents vendeurs.

• L’incitation. Est-ce qu’on peut trouver un mécanisme volontaire qui montre que le vendeur est de bonne foi en faisant coïncider ses intérêts avec celui de l’acheteur ? Cela peut être une assurance. Le garagiste qui vend la voiture d’occasion s’engage à la réparer pendant un an en cas de panne.

Malheureusement, jusqu’à présent il existe plusieurs périmètres d’échanges dans lesquels ces deux mécanismes n’existent peu ou pas.

C’est la cas notamment des conseils de placement. Il n’y a pas ou peu de mécanisme de réputation. Les produits vendus par les grandes banques changent de gérants sans qu’il soit facile de connaitre la qualité d’une équipe par rapport à une autre.Et d’une banque à l’autre, d’un produit à l’autre, il est difficile de juger de la qualité d’un produit sur sa marque. Et il n’y a très peu de mécanisme d’incitation. Le commercial de la banque veut toucher ses primes de vente, même si le produit vendu ne vaut plus un clou un mois plus tard. Et la banque ne place pas forcement son argent au même endroit que ses clients, elle peut même utiliser l’argent de ces derniers comme de la chair à canon pour ses propres opérations.

Cette médiocrité ambiante est amplifiée par le fait que la concurrence est rare. Un particulier même très doué aurait du mal à vendre ses connaissances de placement à d’autres particuliers.

Les nouvelles technologies du web peuvent faire évoluer ce statu quo.

Sur la réputation, les investisseurs vont pouvoir sélectionner et suivre de gérants dont le talent est reconnu/prouvé par des performances passées vérifiées ou par les avis de milliers d’utilisateurs.

Sur l’incitation, ces mêmes investisseurs pourront montrer leur confiance dans leur travail en prouvant qu’ils investissent leurs propres fonds sur les produits qu’ils conseillent.

Enfin la souplesse d’Internet permettra à des milliers de boursicoteurs de proposer leurs services et de les vendre en lieu et place d’une poignée de grandes banques.

Ces trois axes peuvent d’ici quelques années bouleverser la manière dont chaque particulier place son argent tout en ouvrant la possibilité à de nombreux gérants professionnels ou semi-pro de vendre leur talent et leur connaissances.

Samedi dernier s’est déroulé le dernier BarCampBank à Paris.

Dans l’auditoire il y avait une 50aine de personnes toutes intéressées par échanger sur la finance et le web. Je suis heureux de dire qu’il y avait plusieurs types de profils.

J’ai rencontré de vrais banquiers (des vrais banques ou assurances), des personnes de chez Laser, qui est à mon avis une des entreprises du secteur la plus innovante. J’en veux pour preuve qu’ils ont créé l’echangeur un espace d’innovations en plein Paris, et qu’il y a toujours des gens de Laser dans les conférences à la pointe en innovation que ce soit à Londres ou à Paris. J’ai aussi rencontré une étudiante qui fait actuellement son mémoire sur le web2 et la finance. Il y avait bien sur Eric Mahé de chez Sun qui nous accueille souvent pour les BarCamp, Jean-Michel Planche (qui a fait un compte rendu pertinent ), Michel Bernard Mantel (qui travaille sur les finances solidaires, il est aussi propriétaires de pas mal de noms de domaine autour du crédit et du prêt qu’il utilise comme monnaie d’échange pour défendre sa cause), Fréderic Baud l’organisateur, Jean-Christophe Capelli et Nicolas Guillaume les fondateurs de FriendsClear, une des start-up les plus avancées en France sur le P2P lending.

Il y avait d’ailleurs cette fois ci des start-up déjà montées qui n’existaient pas il y a encore un an. Parmi ces dernières des plateformes de Personal Finance Management (des Wesabe like francophone comme Winancial et moneylib), des plateformes de P2P venture qui permettent à plusieurs petits investisseurs de financer des PME (Investigo), enfin le P2P lending (prêt de particulier à Particulier ) représenté par FriendsClear. Bien sûr il y a eu une une cession sur le Social trading lancée par Eric Bugnon, venu spécialement de Suisse (un compte rendu du BarCampBank est disponible sur son Blog), et à laquelle j’ai participé avec plaisir. Pour la liste complète des participants c’est ici.

Bref ça commence à bouger fort et je suis vraiment heureux que le BarCampBank soit devenu le lieu de rassemblement des acteurs de ce secteur.

Concernant les ateliers je ne rentrerai pas dans les détails, des prises de notes de 3 ateliers sont disponibles ici (merci à celui ou celle qui a pris le temps d’écrire et de diffuser sur Internet, je ne sais pas qui est-ce). Nous avons parlé de la P2PMoney, du P2PVenture, du P2PLending, du SocialTrading et enfin de l’identité numérique (openID, liberty Alliance, CardSpace). Cet atelier sur l’identité et la réputation revient souvent lors du BarCamp car c’est une problématique fondamentale du développement d’internet qui n’est pas totalement résolue. On commence cependant à voir des choses intéressantes.

Le soir j’ai diné avec Louis van Proosdij Duport (il a lancé entre autres les open coffe à Paris) , Jean-Christophe Capelli, Eric Bugnon et Christophe Ducamp et son vélo électrique nous a rejoins, un promoteur devant l’éternel des standards web ouvert et un fin connaisseurs du monde du web (il maitrise aussi les hashtag sur twitter). Un diner-brainstorm qui concluait une belle journée.

Ce soir, via twitter, un nouveau BarcampBank est annoncé à Londres (autant dire La ville des banquiers) le 5 juillet prochain. Vive les BarCampBank !

En conclusion les liens utiles :

• Les minutes de certains ateliers
• Les photos
• Les particpants et tous les autres liens liés

Eric Bugnon, seul auteur francophone d’un blog qui parle souvent de social trading (j’espère maintenant devenir le 2éme ;0)) nous propose sur son blog la présentation qu’il présentera samedi prochain au BarCampBank.Il reste encore des places alors n’hésitez pas.

La présentation d’Eric Bugnon intitulée Trading, biais psychologique et web 2.0 Merci Eric!

Besides lemonade stands, bake sales, and kids shoveling snow, another neighborhood past time is the local car wash by high school or college kids who are raising money for one thing or another.

There’s two ways people could use Collabotrade. One is to use it to announce that you are having a car wash to neighbors in the area or zip code. That will link up with other like-minded people and groups when they search.

Secondly, you can use Collabotrade to raise money for the soap, sponges, towels, and volunteers.

Collabotrade is infinitely versatile. Just give it a try. LK

There is one small business that is very lucrative but is both hard to market and hard to find to get done.

If you like to clean cars and detail them Collabotrade is a great way to get your name out. If you are looking for that service, Collabotrade is ideal for it because it lets to you find people within your own zip code who are offering it. LK

I have bought about 10 computer printers in my life-time. Some still work. Others I wished worked longer, but something went wrong with them and now they don’t function. At the same time,  I hate to throw electronic things away. I feel like I wasted my money by throwing the whole thing away.

Imagine if there was a solution to that through Collabotrade services.  Maybe you are a hobbyist who likes to fix things and could bring back to life an old Samsung Laser Printer that worked great until recently. Or maybe, you have an idea to collect non-functioning electronics just to get them off people’s hands. You could turn it into any number of directions for yourself. It all starts with getting an account today. LK

As spring and summer are coming, you might think of traveling.  Would it be convenient for bed and breakfasts stops to give a little information out so that you could know what’s going on that day?

Most B&B’s don’t have websites and don’t have the resources to build fancy sites. But they could use Collabotrade.com to let people know about their offerings, a description of their properties, and best of all, be listed by zip code and service to be easily found on Collabotrade.

Also, B&B’s have their own services they need, such as procurement for old furniture, cooking equipment, paintings, flowers, all those little touches that make one B&B unique and different from all the others.  If you have a B&B, make yourself a Collabotrade user today. Summer will be over before you know it! LK

There was a story on CNN about a mother of an autistic 7 year old who has only a 100 word vocabulary. She enrolled him in a 40 hour per week therapy which costs a whopping $80,000 a year. To put that in perspective, you could put a medical student through 1 year of medical school for that kind of money. After 4 years you have a medical doctor who can save lives.

Has there ever been any evidence that therapy can normalize the development of an autistic child? Imagine how hard it is to catch up and read at age 12 or 17 or 21. Certainly, a healthy child who learns phonics from an early age will have a growing vocabulary of some 24,000 words by 4th grade and 100,000 by age 21. That’s an insurmountable lead. So many other issues need catching up as well. Will the $80,000 spent on an autistic child ever be recouped? Will they ever have independence? Will they ever be able to hold a real job? If you can’t outgrow your autism, then the answer is no on all counts.

The reason for mentioning this is that the mother is a lawyer who was able to get a law passed that forces insurance companies to pay remedial education as a medical treatment. Sounds fishy. Now, suppose you were against this law, could you use Collabotrade to organize and mobilize social activism to preserve your freedom? Could you solve the autism problem using private solutions, instead of state-sponsored coerced solutions? How can you use Collabotrade to improve life without restoring to extortion of your fellow citizens?

Since 2008 is an election year, it’s a good time to think about how you can use Collabotrade to build your own networks of activists trading placards, books, information, meet-ups, car pooling, and so forth to make your voice heard. LK

Nothing like April Fool’s Day to bring out the faux comedians. But seriously.

There are a lot of comedians out there who could use Collabotrade.com and lot of clubs and bars that need comedians. That’s an excellent opportunity for Collabotrade to bring people together who have obvious needs.

Clubs love to find cheap new talent, i.e.,  free jokesters, and comedians need to polish their act.

Visualize for a minute: you’ve opened your Collabotrade.com account, you’ve entered a description of yourself as a comedian with xyz type of jokes, and you are looking for bars and clubs to work.  And if you’re a club owner, you enter a call for local comedians to laugh the pants off your guests. It’s a win-win.  And who knows, you just might meet the next Eddie Dangerfield or Rodney Murphy. LK

A Craig’s list user was able to use the site to unleash a mob on a woman’s house inviting people to take what they wanted free of charge. They stripped the home clean of everything including such fixtures as windows and sinks. The ransacked home was a shell of itself.

This is a devastating fall for the credibility of Craig’s List. This event has brought out other such problems with the Craig’s List website, including prostitution rings, rental scams, and other types of fraud. What is even more outrageous is that Craig’s List is protecting the perpetrator to the crime by refusing to help the woman find out who did it, as if such the perpetrator has a right to privacy. Craig’s list obviously isn’t looking out for the public on this one. As light shines on Craig’s list, people will seek new approaches to ensure trusted trading.

As fate would have it, Collabotrade.com is a trusted trading network that does meet people’s need for trust. By creating niche social trading networks within the site, that are subject to localized administrators, individuals cans substantially mitigate illegal and unscrupulous activity.

Collabotrade is the next generation of social trading networks. It puts trust back into social trading.LK

Although he is in Ukraine, the 8 foot 5 inch world’s tallest man could use Collabotrade to find people who could build furniture that suits him. There are all sorts of custom items a man that size needs. Someone already made him a bicycle. Who knows what else he needs, he will eventually find it on Collabotrade. Isn’t it interesting when we all feel like kids around someone so tall? LK

I wish I knew how to develop really cool websites. I don’t know anything about Flash, but I know cool sites use it. I know what I don’t know, and boy it would be nice to talk about what I want in a website with someone who is just starting how building them.

For a beginning entrepreneur, Collabotrade will eventually be a great place to market one’s small business before it is even a business. You know the story. When people see what you are able to do for free or near free or below cost, they say, “You know, you should do this for a living.” Those are the people who become your first word of mouth, your first advocates, your first referral directors, your reconnaissance for new business.

So, you’ve been tinkering with building your own sites, you’ve got some skills, and you want to offer them to others to gain experience. You put the word out in your local community that you want to collabotrade with people who want their own web-sites. You learn about their needs and  expectations. You give them a site sample. They help you tweak it. Everyone is happy. Do a number of these and you can hang your shingle: web developer. It could be that or anything, just fill in the blank. Carpentry, roofing, resume-building. LK

Now that winter is almost over, you might want to unload shovels to those who like to prepare for next season. Things like roof-rakes are quiet valuable when up to 40 tons of snow are on top of your house. If you are moving to Florida, you don’t need a roof rake, but someone in your neighborhood will!That’s where Collabotrade can help you. LK

As more and more people opt for corrective eye surgery and as people upgrade their glasses and frames to lighter versions, there are millions of eye pieces just sitting around that can be recycled.

There’s a group called New Eyes For the Needy. Maybe they’ll come across this post and realize how to benefit from Collabotrade.com

If they are a national organization, they could have their people set up their own local networks of eye doctors and patients to trade their old eye glasses and gather them up for reuse. Maybe they won’t see this page and miss the opportunities Collabotrade has to offer.LK

Millions of people garden and the best way to get off to a good start is to have some seedlings that have sprouted in a greenhouse or a warm sunny room. From there, these seedlings have a great chance to bring tomatoes, lettuce, cucumbers, and various herbs.

Of course, unless you have the space and the seeds now, it is hard to get many different kinds of seedlings germinated. You also have to keep track of what you’ve planted.

So, you are an avid gardener, sprout your seeds and announce what you have on Collabotrade.com. Trade some seedlings for some mulch. Thousands of people are hungry for good seedlings because good seedlings mean good fresh food in early summer.

It’s amazing what Collabotrade can do for your health.LK

Comic Books were a huge rage recently. How many of them have become movies, and how many of their story lines are refashioned and redeployed in a new movie? Comics, not poverty, will always be with us.

So, there’s no better place to trade comics than through your own network at Collabotrade.com

There are thousands of comic books that you haven’t read or seen, but all of them have something new to you. Just like our discussion on videos, Collabotrading comic books is a great way to maximize your use of this social networking platform. LK

Spring is not quite in the air, but very soon the birds will start chirping, the sun will shine, and the garage will need a sweep out.

When it comes to starting a garage sale, the first place to begin is planning a strategy to boost attendance. That means you need to get an Collabotrade account now. The sooner your hook up with Collabotrade, the sooner you can pick up the benefits of Collabotrading.

To make the most of your account, be should to list the kinds of items you’d be putting up for sale. You should also spread the message of Collabotrading so more and more people hear of the network and discover its benefits. As always, it’s free to post your announcements. Get started on planning your garage sale today. Pick a date and get your account while it’s still to cold and rainy, so that you have a successful event. LK

Time was, men wore hats in public—and not just the ball cap, the jogger visor, or the fishing hat.

They wore top hats, Fedoras, Porkpies, Homburgs, and Derby’s. Don’t know what they are? Check out this article.

Although they went out of style, they are due for a resurgence. “Hats are both functional and stylish. They can cover a bad hair day, keep your head warm, and shade your eyes from the sun. They can also be worn to cover a receding hairline, which interestingly enough is why Frank Sinatra, an iconic hat wearer, start wearing one in the first place. They give you touch of class and sophistication, impart personality, and add an interesting and unique accent to your outfits. And hats are a sure-fire way to boost your confidence. A cool hat can quickly become your signature piece and give you extra swagger.”

So, wear a hat! Set a new trend. If you like, dig out a hot hat from its box and put it on Collabotrade.com Hats just might take off to be the next must-have item! Forget the I-Pod. Put a felt hat on your head!LK

Another way to enhance your ability to communicate the value of a product you want to sell, rent, or trade on Collabotrade is to post a video of it on Youtube.com

The more information you offer about a product to show its true condition, as well as its value, will communicate trust to your potential customers. When they see it in video, see how it is used, how and whether it runs, they can make a more confident estimate of its value to them. That means a faster sale with a sales premium. You will beat out any other similar product which has less information, fewer pictures, and a weaker presentation of its actual state.

So, if you are using Collabotrade, think of using it in collaboration with Youtube.com

You’ll do more deals at higher prices. You’ll be able to concede less, even hold our price, since you are giving more information upfront. This is just another way to integrate web tools to make trust happen. Trust pays. LK

About 50,000 new books are published in the United States each year. How many of them are really valuable? You could name 5 or 6 books that really mean something to you. The rest you read and could pass on.

Very few books get reviewed to get publicity into the mainstream. Imagine if your books had a second life through Collabotrade. Just as we talked about videos being traded across networks, the same thing could be done with books. I bet there is a huge potential to send books to foreign countries simply on the basis that people want to practice their English comprehension.

Collabotrade would be a great way to organize book drives and funnel forgotten books to a second life of value. I wonder if there is a group already doing that, and whether they could benefit from Collabotrade.com in some way? LK

Atlas Shrugged in Florida!

But you don’t have to. Today’s power outage in Florida illustrates the benefits of Collabotrade.com for trading vital goods or services in emergency situations. Here, people need power generators. You can’t access your computer easily when the power is off, either. However, the social networking platform puts you in position to help your friends and neighbors when they need you most.

Imagine if you had used Collabotrade.com to procure generators ahead of time. What if you bought a simple second-hand battery back-up for your computer to stay online? You would be able to communicate with others in your network as a live node. Other members of your network who are also live on their own generators could communicate with you. Those who are online could then make arrangements for all sorts of things that people might need as the lights go out in Florida.

The power outage is a warning. Better build your presence on Collabotrade.com before the next hurricane! LK

How often to people buy DVD’s, watch the movie for a few times, and then forget about it? It’s only a movie, of course. You’re not wasting food.

Think about this. There are thousands, indeed, millions of people who have DVDs that they barely use. As far as I know, there is no network of people who trade or swap their DVD’s on a regular basis using some kind of platform.

That platform exists. It is called Collabotrade.

At Collabotrade.com you could swap a movie you want for a movie you don’t. You wouldn’t encounter any late fees either. You just trade when you like, bartering your way to better entertainment. Your bank of DVD’s becomes the supply that you can use to create demand for DVD’s you can’t wait to see. You’ll find people who like movies. You can exchange reviews and recommendations. It’s a great way to network. In fact, if you are really entrepreneurial, you could become the clearing house for such DVD’s and make a buck as the HUB manager.

You’ll have Hollywood quaking in its boots! LK

Besides the lunar eclipse, there is the US military satellite that may or may not be shot down this week. Those who have a telescope could see both while they last.

How would you get a telescope? Think second-hand.

There must be thousands of telescopes out there that no one is using. Old gifts and forgotten interests sitting in a trunk, attic, basement, or garage. Unload them on Collabotrade, the premiere peer to peer trading network.

If you are planning a garage sale, there is no other place that better equips fans of garage sale to find you online than Collabotrade.com LK

Which sport has 75 million fans? That’s 1/4th the American public! No presidential candidate has ever received so many votes. Unless you knew the answer, you probably wouldn’t believe it.

NASCAR is the second highest rated sport on television. 40% of its fans are women. The size and devotion of the NASCAR fan base is truly amazing, since it is so overlooked. What some people might smear as carbon-dioxide toting enemies of clean air are really Americans enjoying life, and the larger satisfying experience of putting their larger-than-life, highly skilled heroes, making life-and-death decisions, on a pedestal. It just so happens to be a cockpit going 200 mph. Think James Bond on spark plugs. With in-car cameras, any fan can see themselves in the driver’s seat. Not everyone has a race track and car to practice on as a child, either. It is exactly the opposite of soccer, where all you need is ball. This makes it all the more amazing that this sport has such a huge fan base.

Today, of course, is the Daytona 500. Fans seeking memorabilia can find it by starting their own NASCAR fan clubs using Collabotrade.com. Post a free classified ad for what you are looking for and you’re sure to find someone who is willing to pass it on.

Of course, if you’re a b-ball fan, this is the NBA’s All-Star Weekend in New Orleans. Strong fans of Kobe, Kevin Garnett, Yoa Ming, Lebron James, or Shaq, who is resting, should start their own fan club on Collabotrade.com. It’s good to build the habit of using Collabotrade.com It is a networking tool you will use your whole life to pick up great deals from those you trust. Just imagine getting those hard to find tickets when you thought they were out of reach! Don’t imagine. Just use Collabotrade.com to get tickets and all that you want.

Sports is uniquely set up to draw out trust. Man and machine. Man and horse. Man versus man. Harmony. Chemistry. Team. Becoming one with your car, your horse, your bat and ball, and your teammates. That is the chemistry needed to bring out your best. Chemistry holds your team together when your adversary wants to keep victory and fun out of your hands. Sports is all about trust—that the rules will be absolute from beginning to end, that the judges will be impartial, and that the participants will play by the rules, that your car will start, your horse will run, and you will strive to be all you can be. Collabotrade.com will help you enjoy your games and hobbies your whole life. Get started today. LK