Possibly. We empirically examine the plausibility of rational models designed to explain stock price bubbles associated with technological revolutions such as the internet. Our innovation is to examine the volatility patterns of old economy (brick and mortar) firms that adopted the internet as a...

This paper is among the first to use a unique controlled empirical setting - traditional firms' adoption of the Internet for commerce - to investigate the impact of changes in firms' technological environment on their stock return volatility. Using three distinct empirical methodologies we...

Prior studies of online crowdsourcing platforms have examined participants’ behaviors and found that experienced designers are more likely to win in crowdsourcing contests. However, what gives experienced designers an edge in these contests is not well understood. Our study seeks to understand...

An extensive literature in economics and finance has documented “home bias,” the tendency that transactions are more likely to occur between parties in the same geographical area, rather than outside. Using data from a large online crowdfunding marketplace and employing a quasi-experimental...

Although third-party trust seals have been in use for long by online retailers, systematic studies of the effectiveness of these trust signaling mechanisms are scarce. Using a unique dataset of over a quarter million online transactions across 493 online retailers, this study seeks to...

Electronic brokerages on the Internet represent one of the most successful examples ofelectronic commerce, having captured over 20% of retail stock trades. According toeconomic theory, prices of commodities like securities should converge to one price in amarket with the transparency of the...