Online users often need to make adoption decisions without accurate information about the product values. An informational cascade occurs when it is optimal for an online user, having observed others' actions, to follow the adoption decision of the preceding individual without regard to his own...

Static theories of firms often fail to explain the tendency toward standardization and de facto monopolization by software and digital product firms. This article examines arguments favored by new economics of information: no market power, increasing returns, and network effects. We evaluate...

The proliferation of new information technologies throughout the world has raised some important questions for policymakers as to how developing countries can benefit from their diffusion. This important volume compares the advantages and disadvantages of the IT revolution through detailed...