This paper tests the co-terminal swap market model (SMM) pricing and hedging performance onBermudan swaptions. To our knowledge, the drift for SMM is derived explicitly for the first timehere, and the procedures for calibration and simulation using a collection of forward swap rates arealso...

In this paper, we open up the black box that has been the introduction of open practices into firms’ commercial R&D strategies. Most of the existing research on the phenomenon of open innovation focuses on its interorganizational aspects. In contrast, the effect that the opening of boundaries...

In this paper, I describe and analyze the phenomenon of informal development collaborationbetween firms in the field of embedded Linux, a type of open source software. Toexplain the observed phenomenon of voluntary revealing, I develop a duopoly model ofquality competition. The central...

The link between firms engaging in open source software (OSS) development and the OSScommunity is established by individual developers. This linkage might entail a principalagentissue due to the developer’s double allegiance to firm and OSS community, and exposethe firm to the risk of losing...

This paper provides a quantitative study (N = 268) of patterns of free revealing offirm-developed innovations within embedded Linux, a type of open source software (OSS). Ifind that firms, without being obliged to do so, contribute many of their own developmentsback to public embedded Linux...

This paper draws on two extensive case studies to explore how the co-production and exchange of knowledge is organised during innovative activity. In the empirical cases multiple, transient innovation systems emerge, and self organise, around a particular problem. The emergence and evolution of...

Increasingly, funding of academic research is carried out through the support of collaboration, rather than through single awards to a sole grant holder. The practice is well supported by evidence that larger, network-based research achieve high quality while leading to a number of capacity...

Network externalities spur the growth of networks and the adoption of network goods intwo ways. First, they make it attractive to join a network with a large installed base.Second, they make it attractive for network members to actively recruit new members.Despite indications that this “peer...