The use of traditional industry-level profitability indicators for assessing the state of competition is problematic for two reasons. First, short-term variation reflects business cycles more than it does the impact of competition policy. Second, rough industry-level indicators hide different...

Toimiva kilpailu on talous- ja tuottavuuskasvun perusedellytys. Markkinoiden toimivuudesta huolehtiminen on myös suomalaisen elinkeinopolitiikan prioriteeteissa nostettu korkealle. Tästä huolimatta kilpailusta ja sen voimakkuudesta tiedetään todellisuudessa vähän. Tässä selvityksessä...

The use of traditional industry-level profitability indicators for assessing the state of competition is problematic for two reasons. First, short-term variation reflects business cycles more than it does the impact of competition policy. Second, rough industry-level indicators hide different...

Unlike conventional contracts established through speech, written words, or actions, smart contracts are algorithmic, self-executing and self-enforcing computer programs. In this article, we analyze smart contracts from the perspective of digital platforms and the Finnish contract law. We...

Banking and financial services have traditionally been a heavily regulated industry where technology alone has not been a sufficient factor to transform the operating architectures of the industry. The pervasive view in the financial industry has been that digitalization and its integrational...

Suurten volyymien vuoksi valuuttakauppojen selvitysriskit ovat kasvaneet niin huomattaviksi, että ne aiheuttavat huolta kansainvälisten rahoitusmarkkinoiden vakaudesta.Uhkakuvana on, että valuutta-markkinoilla jonkin osapuolen tai joidenkin osapuolten maksuongelmista alkanut tilanne saattaa...

Social institutions are persistent regularities in contracting and other relations amongst men and in the unintended consequences of such rule-like behavior. They include morality and law as well as institutions of governance such as branding and advertising. Institutions are studied in all...