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Peer-to-Peer (P2P) is a communication structure in which individuals interact directly, without going through a centralized system. The implications of this architecture go far beyond the technological realm; the ability of individuals to share digital content files, including audio and video material, in real time, facilitates communication and, at a deeper cultural level, promotes community without hierarchy or strict control. As Eli Noam, Lorenzo Pupillo, and their colleagues demonstrate in this timely and incisive volume, P2P has permeated all facets of society, from YouTube and music downloading experiments on college campuses to international policy debates over intellectual property rights. Peer-to-Peer Video is the first book to apply economic principles to analyze and understand the P2P phenomenon, considering such topics as "consumer demand and the commons" and "file sharing and the copyright crisis."