There is increasing empirical evidence that creative destruction, driven by experimentation and the adoption of new products and processes when investment is sunk, is a core mechanism of development. Obstacles to this process are likely to be obstacles to the progress in standards of living....

When factors enter into joint-production, they typically develop a degree of specificity with respect to each other. It is well known that, when combined with contracting difficulties, specificity gives rise to a Williamsonian 'Fundamental Transformation' from an ex-ante competitive relationship...

Die Herausforderung der Digitalisierung durch Projektifizierung Die Digitalisierung hat mittlerweile nahezu alle Bereiche des Privatlebens und des Arbeitslebens erfasst. Dieses Buch befasst sich mit der Digitalisierung als Transformationsprozess der Gesellschaft. Dabei liegt der Fokus auf...