Career
Bakos' early work showed that the internet would reduce the search costs of buyers and sellers, and that the resulting electronic marketplaces would result in lower prices and more competition among the sellers. He has more recently studied pricing strategies for information. For example, his work with Erik Brynjolfsson showed that Product bundling can be particularly effective for "digital information goods" with very low or zero marginal cost.1 In other recent work, he has been studying how reputation mechanisms, like the ones used by eBay, offer an alternative to traditional litigation as a way to settle disputes.
Bakos is the co-inventor of Flexplay DVDs, which are limited play DVDs that expire a preset period after the package is opened. Expiration is triggered when a special chemical layer in the DVD is exposed to oxygen in the air, and thus does not depend on the electronics of the DVD player. This invention received several U.S. and international patents. Dr. Bakos co-founded Flexplay Technologies, where he was Chairman of the Board from 2001 until the company was sold to the Convex Group in 2004. Disney has released about 100 movies in the U.S. using this technology under the ez-D trade name, and the technology is presently tested in Japan.
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