The drivers of economic growth in what is called the New Economy has become animportant policy question. As communities across the country face economic challenges and a new economic reality, the question of what works in the New Economy has emerged. This study aims to provide growth...

Both theoretical and empirical evidence suggest that in markets withstandards competition, strong network effects can make the strong growstronger and, in some circumstances, even 'tip' the market towards asingle, winner-take-all standard. We theorize that in the presence oflow cost conversion...

The Market in Financial Instruments Directive (MiFID) aims to increasecompetition and to foster client protection in the European financialmarket. Among other provisions, it abolishes the concentration rule andchallenges the market ower of existing trading venues. The directiveintroduces venue...

Theoretical and empirical evidence suggest that in many markets with standards competition, network effects make the strong grow stronger and can “tip” the market toward a single, winner-take-all standard. We hypothesize, however, that this sort of standards-induced market dominance may be...

A growing number of firms are strategically utilizing IT and the Internet to provide online services to consumers who buy their products. Online services differ from traditional services, such as maintenance services, because they often promote interactivity among the firm’s customers and...

In this study, we model firms that sell a product and a complementary online service, where only the latter displays positive network effects. That is, the value each consumer derives from the service increases with the total number of consumers that subscribe to the service. In addition, the...

This dissertation comprises three individual chapters. Chapter Two examines how free riding across neighbors influenced the diffusion of color television sets in rural China. Chapter Three tests for asymmetric information between a firm’s management and other investors concerning its patent...

This paper analyzes the causes of illegal copying and its effects in the software market across 66countries. By studying the aggregated and joint effects of different variables, the analysis shows thatsupply constraints in the software market, shortage of after-sale support, and characteristics...

We assess the international spillovers of US monetary policy with a large-scale global VAR which models the world economy as a network of interdependent countries. An expansionary US monetary policy shock contributes to the emergence of a Global Financial Cycle, which boosts macroeconomic...