Successful roll-out of Digital Rights Management (DRM) solutions has the potential to transform the economics of pay television. This paper explains how a technology that is being developed as a potential solution to the challenge posed by the widespread theft of intellectual property (piracy)...

This paper attributes the slow diffusion of innovations to an informational externality in the process of their adoption. When a new technology arrives its profitability is uncertain but each firm can learn progressively through observing the adoption experience of other firms. Given this...