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Is Internet an ideal model for a self-regulated economy? It seems possible to decentrely organize and render enforceable a property right system on which interindividual negotiations could be based. Moreover, traditional State intervention is no longer operable since Internet users can by pass the usual regulatory frameworks. A the same time, the long-term sustainability of the competitive process is not guaranteed in the digital economy, and cyber-activities generate externalities that affect the non-users of the Internet. These call for the organization of an institutional framework that would avoid the capture of self-regulations by interest groups seeking to exercises monopoly power. Delegating the management of some essential resources – especially, the addressing system – to an entity responsible for the regulation in the last resort would enable the construction of such a framework. Classification JEL: H4, K2, L4, L5, L9