Commons-Based Peer Production
According to Yochai Benkler, Professor of Law at Yale University Law School, the 'commons-based peer production,' which the Wikipedia adopts, has systematic advantages over firms and markets, in terms of allocative efficiency of resources of production, when the product is information and culture1.
The efforts of large groups of individuals from the public are collaborate on large projects without the hierarchical organization of firms. The individuals are not motivated to contribute to the project by market prices but by a variety of factors and social signals1
.Public Knowledge | Growth of the Wikipedia