Facilitated by various online platforms, transaction costs of sharing and selling used and excess products have become almost zero and this phenomenon has created new economic competition between new product sellers and those offering shared and used products. In this paper, we study the...

Innovations can often be targeted to be more valuable for some consumers than others. This is especially true for digital information goods. We show that the traditional price system not only results in significant deadweight loss, but also provides incorrect incentives to the creators of these...