Early modern information exchange was a potentially costly transaction with little legal infrastructure available to enforce cooperation. We analyze patterns of informal information exchange to assess the role of relational and institutional governance systems and uncertainty in encouraging...

Nanotechnology is a unique field encompassing many disciplines and specializations. Collaboration between firms is important the development of the field and collaboration across sub-fields may be particularly beneficial – stimulating innovation through the exchange of information. Based on a...

Seventeenth-century England was the site of a profound transformation of early economic thought. The amount of works published increased rapidly and the works became less concerned with morality and scripture and more concerned with national prosperity and empirical evidence. We show that the...

The English East India Company was one of the most powerful and enduring organizations in history. Between Monopoly and Free Trade locates the source of that success in the innovative policy by which the Company’s Court of Directors granted employees the right to pursue their own commercial...

Department: Mathematics.

This paper examines the impact of the large structural shocks -- automation and import competition -- on voter turnout during US federal elections from 2000 to 2016. Although the negative income effect of both shocks is comparable, we find that political participation decreases significantly in...

We examine the impact of labor market power on firms' adoption of automation technologies. We develop a model that incorporates labor market power into the task-based theory of automation. We show that, due to higher marginal cost of labor, monopsonistic firms have stronger incentives to...

This paper analyzes whether institutional ownership affects the nature of corporate innovation. We consider the heterogeneity of firm innovation by differentiating upstream research from downstream development using novel indicators for scientific publications and patents. Our analysis shows...

We explore if co-ethnicity between a VC investor and an entrepreneur influences the investor’s assessment of the investment potential of the venture. To do so, we use a proprietary dataset from TechCrunch Disrupt, a startup fundraising competition. Our results do not provide evidence that...

What is the effect of labour market adjustment to automation on political participation? We study the consequences of the introduction of industrial robots across US commuting zones on voter turnout in US counties between 2000 and 2016. We first replicate prior results showing negative effects...