The process of innovation is driven by two main factors: new inventions and institutions supporting the transformation of inventions into marketable innovations. This paper proposes a new institution, called a semi-public competition, that has been neglected by the economic literature but exists...

Should mergers among nonprofi t organizations be assessed diff erently than mergers among for-profit firms? A recent debate in law and economics, boosted by apparently one-sided court decisions, has produced the result that promoting competition is socially valuable regardless of the particular...

This paper applies economic governance theory to the cloud computing industry. We analyze which governance institution may be best suited to solve the problems stemming from asymmetric information about the true level of data protection, security, and accountability offered by cloud service...

This paper studies competition in data-driven markets, that is, markets where the cost of quality production is decreasing in the amount of machine-generated data about user preferences or characteristics, which is an inseparable byproduct of using services offered in such markets. This gives...

This article explains why both software developers and firms contribute to the production of Open Source Software (OSS). Existing economic theories either focus on the supply side (developers) or the demand side (firms) of OSS development. This paper is the first to explain both sides in one...

I study the capacity of business associations - private, formal, noncommercial organizations designed to promote the common business interests of their members - to support contract enforcement and collective action. Inspired by recent empirical literature, my theoretical framework connects the...

There are no generally accepted results regarding the objectives, decisions, and economic outcomes of nonprofit organizations, as compared to forprodit or public firms. We posit that this inconclusiveness is due to a too broad definition of nonprofits and that different types of nonprofits...

We study the capacity of business associations|private, formal, noncommercial organizations designed to promote the common business interests of their members|to support contract enforcement and collective action. Inspired by recent empirical literature, our theoretical framework connects the...

Should mergers among nonprofit organizations be assessed differently than mergers among for-profit firms? A recent debate in law and economics, boosted by apparently one-sided court decisions, has produced the result that promoting competition is socially valuable regardless of the particular...

The recent rise of big data and artificial intelligence (AI) is changing markets, politics, organizations, and societies. It also affects the domain of research. Supported by new statistical methods that rely on computational power and computer science --- data science methods --- we are now...