The East Asian economic crisis of 1997 and the rapid recovery by 1999 has become a widely debated topic among researchers; its analysis primarily based on economic theories of financial crises and their origins. This paper sets out to show how analyses based on an institutional and...

In information and service products such as open source software, increasing returns occur on the production or supply side, as well as network externalities on the demand side. For open source software, the social community element needs to be integrated with the framework of increasing...

This paper is about the innovative future of service industries, with a focus on knowledge-intensive business services (KIBS). The authors discuss the unique characteristics of service industries, the effects of internet technology and standardization in the realm of globalization and the future...

This theoretical paper aims to identify the role of trust and reputation between consumers and firms when there is product tampering or other types of product liability. When product tampering occurs, trust implicitly built towards brand or corporation by consumers or customers can be...

Different societies use different mechanisms to assist people or organizations achieve cooperation. The purpose of this paper is to compare three different approaches to achieving cooperation. They are a contractual approach widely used in Anglo-Saxon societies, a trust approach more common in...

The purpose of this paper is to analyze from a law and economics perspective, two issues that have become increasingly prominent in Europe and East Asian relations. The first is that of product origin, and includes the issue of Japanese automobile “transplants†in Europe. The second is...

In 2011, China continues to be the world’s largest recipient of direct foreign investment—which in 2010 totaled US$105 billion. China is also the world’s second largest economy after the U.S. Once a staunchly Communist state, China now advocates a “social market...

In a duopoly model with vertical differentiation, if the firms do not cover the market, the lower-quality firm chooses a quality level exactly 4/7 of that of the higher-quality firm and chooses a price that is 2/7 of the price of the higher-quality firm. Copyright 1992 by Blackwell Publishing Ltd.