[arin-ppml] Creating a market for IPv4 address space in absence of routing table entry market

[Milton L Mueller]

I see no reason why the transacting parties would not be able to
internalize the routing externality. Who is going to put down good money
for addresses that can't be routed, or that even have a substantial risk
of non-routability? 

> -----Original Message-----
> 
> The arrangement of the address space (in terms of numbers of
> blocks, shape of said blocks, and fit to existing holders blocks) are
> all factors which affect the value of some space to a given holder.
> i.e. 16 random /28's may not have the same usefulness as a /24)
> Most of this consequential to the externality of having to route
> the address space before being able to use it for most applications.
> As there is no market for global table routing slots, and yet a very
> real limit on their availability, this externality is extremely
difficulty
> to assess and creates a continuously iterated prisoner's dilemma
> situation with unknown equilibrium points.   Market failure in
> this case can result in a truly dysfunctional Internet.