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Gans, Joshua - National Bureau of Economic Research - 2022

Exploitation of disruptive technologies often requires resource deployment that creates conflict if there are divergent beliefs regarding the efficacy of a new technology. This arises when a visionary agent has more optimistic beliefs about a technological opportunity. Exploration in the form of...

Persistent link: https://www.econbiz.de/10013210119

Cybersecurity Risk

Florakis, Chris - 2020

We develop a novel firm-level measure of cybersecurity risk using textual analysis of cybersecurity-risk disclosures in … corporate filings. The measure successfully identifies firms extensively discussing cybersecurity risk in their 10-K, displays … intuitive relations with quantitative measures of cybersecurity risk disclosure language, exhibits a positive trend over time …

Persistent link: https://www.econbiz.de/10012482415

Patent Value and Citations : Creative Destruction or Strategic Disruption?

Abrams, David S. - 2013

Prior work suggests that more valuable patents are cited more and this view has become standard in the empirical innovation literature. Using an NPE-derived dataset with patent-specific revenues we find that the relationship of citations to value in fact forms an inverted-U, with fewer citations...

Persistent link: https://www.econbiz.de/10012128360

Obsolescence Rents : Teamsters, Truckers, and Impending Innovations

Cavounidis, Costas; Chai, Qingyuan; Lang, Kevin; … - National Bureau of Economic Research - 2023

We consider large, permanent shocks to individual occupations whose arrival date is uncertain. We are motivated by the advent of self-driving trucks, which will dramatically reduce demand for truck drivers. Using a bare-bones overlapping generations model, we examine an occupation facing...

Persistent link: https://www.econbiz.de/10014372500

The Diffusion of Disruptive Technologies

Bloom, Nicholas; Hassan, Tarek A.; Kalyani, Aakash; … - National Bureau of Economic Research - 2021

We identify novel technologies using textual analysis of patents, job postings, and earnings calls. Our approach enables us to identify and document the diffusion of 29 disruptive technologies across firms and labor markets in the U.S. Five stylized facts emerge from our data. First, the...

Persistent link: https://www.econbiz.de/10012599289

Disruption and Credit Markets

Becker, Bo; Ivashina, Victoria - National Bureau of Economic Research - 2022

We show that over the past half century innovative disruptions were central to understanding corporate defaults. In a given year, industries experiencing abnormally high VC or IPO activity subsequently see higher default rates, higher segment exits by conglomerates, and higher yields on bonds...

Persistent link: https://www.econbiz.de/10013172189

Internal Disagreement and Disruptive Technologies

Gans, Joshua - National Bureau of Economic Research - 2022

This paper models the adoption by established firms of technologies that are internally disruptive in that different parts of an organization stand to lose or gain from adoption. When agents disagree with a decision they impose costs on the firm. The paper shows that any resistance to change...

Persistent link: https://www.econbiz.de/10013210120

Labor Dynamics and Supply Chain Disruption in Food Manufacturing

Ramsey, A. Ford; Goodwin, Barry K.; Haley, Mildred A. - National Bureau of Economic Research - 2021

Food manufacturing and processing is an important link between agricultural producers and consumers in the agricultural supply chain. The food manufacturing sector in the United States is both increasingly mechanized and increasingly concentrated. Consequently, labor risks in food manufacturing...

Persistent link: https://www.econbiz.de/10012585380

Nonrivalry and the Economics of Data

Jones, Charles I. - 2019

Data is nonrival: a person's location history, medical records, and driving data can be used by any number of firms simultaneously. Nonrivalry leads to increasing returns and implies an important role for market structure and property rights. Who should own data? What restrictions should apply...

Persistent link: https://www.econbiz.de/10012480204

Blockchain Economics

Abadi, Joseph - 2018

When is record-keeping better arranged through a blockchain than through a traditional centralized intermediary? The ideal qualities of any record-keeping system are (i) correctness, (ii) decentralization, and (iii) cost efficiency. We point out a blockchain trilemma: no ledger can satisfy all...

Persistent link: https://www.econbiz.de/10012481054

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