A large literature explores whether asset returns comove in excess of what can be explained by fundamentals, thus suggesting the existence of frictions or behavioral biases. However, we show that comovement is a ubiquitous feature of asset returns that will arise in the presence of latent or...

In 2013, the global mobile app market was estimated at over US $50 billion and is expected to grow to $150 billion in the next 2 years. In this paper, we build a structural econometric model to quantify the vibrant platform competition between mobile (smartphone and tablet) apps on the Apple iOS...

The mobile applications (apps) industry has exhibited rapid entry and growth in the midst of a recession. Using unique data from the iPhone application ecosystem, we examine how the development of "killer apps" (apps appearing in the top grossing rank) varies by market and app characteristics....