The O-Ring theory provides a framework for analyzing the effects of team production on the emergence of firms in the New Economy. Given risk-aversion of the potential team members, the productive advantage of perfect ability matching in teams suffices to establish an equilibrium which separates...

Lacking payment systems become a bottleneck for the vision of the Information Economy. In many cases payments of fractions of a cent, so-called micropayments, are of particular interest. In this paper we propose a framework to evaluate payment systems. The framework consists of a well structured...

On the basis of the usually applied narrow definition of the Information and Communication (IC) sector, which encompasses only those industrial sectors whose outputs include modern IC technology and services as well as content, it could be said that, during the last 20 years, Germany has...

This article will examine the claims regarding the nature of work in the emerging information society. Particularly, it will be concerned with challenging the "Death of Distance" thesis presented by F. Cairncross (1997), Beck (1998), and others. This view suggests that geography and especially...