Economy-wide increasing returns to scale embodied in a general purpose technology (GPT) and its applications are often a key source of long-run growth. Yet the successful exploitation of increasing returns calls for coordination on a particular technological direction, reducing flexibility and...

Success breeds success in many mass market industries, as well known products gain further consumer acceptance because of their visibility. However, new products must struggle to gain consumer's scarce attention and initiate that virtuous cycle. The newest mass market industry, mobile apps, has...

The invention of new applications based on information and communications technologies (ICTs) has had two economic effects up to now. These applications have transformed production, creating value for applications-inventing companies and their customers and increasing economic growth through...