With the rapid development and wide application of Internet technology，economic globalization and information networking have become the new trendfor world economic development.Socio-economic activities are more and more dependent on the network，especially the Internet.We have already entered the Web Economy Era.Newly emerging technologies，which represented by the information technology and emerging manufacturing technologies，are transforming our traditional production methods.Meanwhile，the new share-in and cooperation concept that arising in the context of new technologies is influencing our traditional model of economic transactions.Newly Emerging Cybereconomy（NEC） is a whole new economic model in this information networking era.

NEC is based on the Internet，in the form of distributed and orderly organization for production，with full trust and cooperation and information sharing guidelines for interaction，in traditional economic information network platform evolved more timeliness with lower carbon.It is a more advanced economic model.Distributed production and trust-cooperation interaction make it a peer to peer network based on trustworthy faith.This dissertation has mainly focused on the characteristics，laws and contributions of NEC，involves five key questions.

1.The entities and characteristics of NEC.We describe several prevalent NEC entities，such as Wikipedia，Kiva Bank，Community Supported Agriculture and “Couch Surfing”.Through the analysis of their origin，development，and unique features，we summarize the four main characteristics of NEC，i.e.distributed production，trust-cooperation interaction，peer-to-peer networking based on trustworthy as well as a high level of low-carbon.The four characteristics are as a basis for our later study.

2.The economies of scale in NEC：the distributed production.We Analysis different schools on scale economic theory in different levels of explanations.From the angle of cost and income，we figure out the environment for distributed production’s existing in NEC，and interpret it in the three levels’ understanding of economic scale.We also explore the conditions for distributed production’s geniture from the views both of the new classical economics and the neo-institutional economics.Finally by using middleman model，we analysis the role of distributed production network in transactions，and clearly we figure out the distributed networked virtual organization of intermediary nature.This part aim to theoretically illuminate the inevitability for the emergence of distributed production.

3.The trade mode in NEC：the trust-cooperative interaction.We Start from the analysis of discrete effect of the price signals in network economics，and then we use repeated game model to explain origins why the cooperation emerges in NEC，and then combined with the theory of signal，we analysis the interaction between price signal and reputation signal.To clarify the relationship between price discrete and reputation，we fatherly build a price-reputation game model.This part is to explain the importance of trust and cooperation for the NEC’s interactions.

4.The interactive selection mechanism of NEC.First we analysis the multidimensional nature of reputation in NEC，focusing on the multidimensional reputation nature of information objectives information sources.Then we illustrate the principles and processes to build a multimensional model from four aspects，i.e.the representation of reputation，the source of reputation，the modification of reputation and the fusion of reputation.Through examples of current NEC entities，we verify the feasibility and applicability of the model and also we analysis its efficiency and security.This part is to provide a new interactive selection mechanism for the interaction individuals in NEC.

5.The relationship between NEC and economic development.We fatherly analysis the low carbon feature of NEC.Based on the introduction of economic entropy and economic development system model，we use entropy theory construct a development model for NEC from five aspects，i.e.individual，information，environment，system and resources，and from this five a aspects we also analysis the entropy increased and entropy reduced process.Finally we use sector fitting model to describe the sustainability of NEC.

Above all we can draw conclusions as follows：

1.In the NEC，the extensive application of new technologies makes the traditional production of large-scale centralized become to distributed production.

2.In the NEC，duo to fully sharing of information，the reputation signals will work together with the price signal；the interactive guideline calls for cooperation based on trust.

3.The distributed production and trust-cooperation interaction make the NEC become a peer to peer network based on trustworthy，and then reputation will be an important factor in interactions，and therefore reputation model becomes the interaction guideline in NEC.

4.The NEC is consistent with the idea of low-carbon economy，which can contribute to economic development.

We research on the NEC by exploring the characteristics，operation rules and contribution to economic development.Our work can guide and promote the sustained and healthy development of the NEC，and meanwhile，to study on such a new economic model，can diversify the traditional economic theories and perspectives to a certain extent.

Keywords：Newly Emerging Cybereconomy（NEC）；Distributed Production；Trust-cooperative Interaction；Interactive Selection Mechanism；Low-carbon Economy