Voluntary standard-setting organizations (SSOs) are a common feature of systems industries, where firms supply interoperable components for a shared technology platform. These institutions promote coordinated innovation by providing a forum for collective decision making and a potential solution...

Organizations increasingly seek solutions to their open-ended design problems by employing a contest approach in which search over a solution space is delegated to outside agents. We study this new class of problems, which are costly to specify, pose credibility issues for the focal firm, and...

This paper contributes large-sample evidence to an emerging discussion on open innovation and firm strategy. We ask why a startup should participate in an open standards community. We propose four ways that participation might increase a startup's chances of a liquidity event: gaining...

The overuse of its currency processing facilities by depository institutions (DIs) has motivated the Federal Reserve (Fed) to impose its new cash recirculation policy. This overuse is characterized by the practice of cross-shipping, where a DI both deposits and withdraws cash of the same...

In an earlier issue of Management Science, Thomas Malone (1987) utilizes the concept of vulnerability costs in order to compare the degree of flexibility exhibited by markets and hierarchies. The purpose of this note is to redefine the concept of vulnerability to include the corresponding...

In this paper, we study competition in multiechelon supply chains with an assembly structure. Firms in the supply chain are grouped into homogenous sectors (nodes) that contain identical firms with identical production capabilities that all produce exactly one undifferentiated product (that may...