The Committee on Payment and Settlement Systems (CPSS) is publishing this comprehensive glossary of payment system terminology as a reference document for the standard terms used in connection with payment and settlement systems. The terms have been published in the reports of the CPSS, the...

When contributing content on large online platforms, producers of user-generated content have to decide where to contribute. On a complex and dynamic platform like wikipedia, this decision is expected to depend on the way the content is organized. We analyse whether the hyperlinks on Wikipedia...

Wikipedia can be considered as an extreme form of a self-managing team, as a means of labour division. One could expect that this bottom-up approach, with the absense of top-down organisational control, would lead to a chaos, but our analysis shows that this is not the case. In the Dutch...

In the copyright policy debate, proponents of strong copyright protection tend to be dismissive of the quality of freely available content. In response to counter-examples such as open access scholarly publications and advertising-supported business models (e.g., newspaper websites and the...

We document a causal impact of online user-generated information on real-world economic outcomes. In particular, we conduct a randomized field experiment to test whether additional content on Wikipedia pages about cities affects tourists' choices of overnight visits. Our treatment of adding...

I quantify spillovers of attention in a network of content pages, which is challenging, because such networks form endogenously. I exploit exogenous variation in the article network of German Wikipedia to circumvent this problem. Wikipedia prominently advertises one featured article on its main...

This paper estimates the importance of network effects in the market for Yellow Pages. I estimate three simultaneous equations: consumer demand for usage of a directory, advertiser demand for advertising and a publisher's first-order condition (derived from profit-maximizing behavior)....