Financial and business services (FABS) as intermediaries play a significant role in global production networks (GPNs). Yet the mechanisms through which they influence the activities of lead and supplier firms in GPNs have received little in-depth attention. The paper addresses this shortcoming...

We generalize the bankruptcy problem of resolving a debt owed to multiple creditors to financial networks, where there are multiple debtors and creditors. We show that some key Nash Bargaining results for the single debtor case do not generalize to financial networks

The recent success of file-sharing technologies such as Napster has highlighted the economic question of whether copying increases or decreases the market value of copyrighted works. Contrary to Michele Boldrin and David K. Levine (2002), we show that Napster-type services are likely to reduce...

This article seeks to examine the fertility, for the regulation of cyberspace, of the "pyramid-network hypothesis". This hypothesis is the conjecture that the process of how law is being created, generally, in all fields of the law, is undergoing a paradigm shift. It is moving away from a...

The market for information and communication technologies is changing rapidly. Products and applications that used to be completely separate are becoming almost interchangeable. Sweeping change lies ahead in voice and data telephony: the fixed-line telephone network faces new competition from...

10.2 trillion dollars have been lost in the US alone in the past two years. 45% of world’s wealth has been destroyed and three of the largest bankruptcies in the US have occurred in the past year. Just as the majority of observers thought lessons from Enron had been learned, crisis has struck...