Distributed product development, in which a firm's new product design happens in more than one geographic location, is becoming increasingly prevalent in a number of industries. While the cost savings from distributed development has received significant attention, some of the deeper...

In the psychological and sociological framework of risk, we establish a static and dynamic equilibrium model for risk-sharing institutional evolution. Particularly, through a comparative study of marine insurance development in China and Europe, we address a wide set of research questions...