关键词: 网络外部性, 金融, 英特网

Abstract: The network for financial dealings is a one-way network with two indirect externalities properties, they are increased mobility brought about by its extension, and free information concerning the market price. From the perspective of industrial organizational evolution the network effect has led to intensified centralization and competition in the financial market. On the one hand, this can promote further progress of the financial industry; on the other, it may raise the probability of financial risks and consequent harm. In this respect, the crucial point to ensure satisfactory operation of the financial network lies in coordination of the behaviors and expectations of the participants. Popularity of the Internet makes it possible for the financial network to reach its maximum effect. Recent progress in the financial market such as the improved structure, innovative tool and reform in methods of dealings are all closely related to the introduction of the Internet.

Key words: network externalities, finance, Internet