The aim of this article is to assess the graduated response systems implemented in France (HADOPI) and in the U.K. (Digital Economy Act) to reduce consumer piracy. After examining the rationale of graduated response and outlining the requirements for a successful implementation, a detailed...

The paper systematises the previous research on trust in virtual teams, by examining how trust and other elements of social capital can be created in virtual teams and where the value created by social capital resides. The study is guided by three main questions: What value can social capital...

The aim of the article is to examine whether Venture Capital Trusts (VCTs) meet government's expectations and help to solve the problem of underinvestment in young companies. In order to do so a survey of companies that were funded by one of the VCTs, the Oxford Technology Trust, was conducted...

This article explains how DRM helped Apple gain market leadership, why Microsoft departed from its usual "software-only" strategy and dropped PlayForSure (and its partners) to launch Zune, why Sony, the historical market leader, failed where Apple succeeded while using the same strategy and,...

The aim of this article is to evaluate, from an economic perspective, the efficiency of Web 2.0. It demonstrates that, because of the non-monetary nature of Web 2.0, several sources of inefficiencies (search costs, externalities, crowding out and adverse selection) exist. Nonetheless, the...

Due to its extensive usage of high-tech, the music industry is often discussed in the innovation literature. Music, however, is not only about recording; it is also about means to create music: the instruments. When it comes to high-tech, the instrument industry is the antipodes of recording...

Due to its ability to solve all main problems associated with digital goods, Digital Rights Management is the favorite option used by companies to tackle piracy. The aim of this article is to discuss the consequences of DRM for consumers, firms and society. The rationales of DRM are discussed...

With four major companies sharing more than 85% of the market, the recording industry is one of the most concentrated industries. While this market concentration has been traditionally linked with high barriers to entry, recent technological changes have made these barriers almost disappear....