An executable axiomatization of the REA2 ontology

2021 ◽  
Author(s):  
Wim Paul Remi Laurier ◽  
Satoshi Horiuchi ◽  
Monique Snoeck
Keyword(s):  
Sharing Economy ◽  
Economic Resources ◽  
State Machines ◽  
Semantic Model ◽  
Economic Activities ◽  
Minimal Set ◽  
Fast Prototyping ◽  
Finite State ◽  
Model Execution ◽  
Stock Flow

The formalization of the REA2 ontology presented in this paper offers a minimal set of operationalized semantics for a single white-box model relevant to all business stakeholders independent of their role or involvement in economic activities. This paper's theoretical innovations are the use of MERODE to model increment and decrement semantics as fundamental stand-alone concepts that simultaneously affect economic resources, event, agents and the semantics of the stock-flow, participation and ownership associations and the formalization of the REA axioms as executable finite state machines. MERODE's possibilities for model execution through fast prototyping allowed validation through the modeling of an archetypical exchange scenario. Both innovations contribute to the reliability of a generic semantic model for finance and logistics in both the traditional as well as the sharing economy, thus promoting traceability and accountability in value networks and supply chains supported by both centralized and decentralized ledger technologies.

Principles for sharing economy formation in the digital society

2020 ◽  
Vol 16 (5) ◽  
pp. 800-821
Author(s):  
E.V. Popov ◽  
K.A. Semyachkov
Keyword(s):  
Network Effects ◽  
Sharing Economy ◽  
Network Effect ◽  
Industrial Society ◽  
Economic Activities ◽  
Digital Platforms ◽  
Digital Society ◽  
Modern Economy ◽  
Characteristic Features ◽  
The Impact

Subject. The article addresses economic relations that are formed in various areas of economic application of digital platforms. The target of the research is the modern economy of digital platforms across different economic activities. Objectives. The aim is to systematize principles for share economy formation in the context of the digital society development. Methods. We employ general scientific methods of research. Results. The study shows that the development of digital platforms is one of the most important trends in the development of the modern economy. We classified certain characteristic features of modern digital platforms, analyzed principles for their creation. The paper emphasizes that the network effects achieved through the use of digital platforms are an important factor in the development of the share economy. The network effect describes the impact of the number of the platform users on the value created for each of them. The paper also considers differences in the organization of traditional economy companies and companies that are based on the digital platform model, reveals specifics of changes in socio-economic systems caused by the development of digital platforms, systematizes principles of the sharing economy formation in the context of the digital society development. Conclusions. The analyzed principles for sharing economy development on the basis of digital platforms can be applied to create models for the purpose of forecasting the transformation of economic activity in the post-industrial society.

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