book 1. Accounting: Introducing financial statements ; Reporting profit or loss in the income statement ; Reporting financial condition in the balance sheet ; Reporting cash sources and uses in the statement of cash flows ; Reading a financial report -- book 2. Operations management: Designing...

In this paper, we develop an economic rationale for the following stylized fact: Web-based firms spend profligately on advertising and marketing and usually lose money. Our rationale is based on the winner-take-all structure of high fixed cost, low marginal cost, markets for information goods....