Economy-wide increasing returns to scale embodied in a general purpose technology (GPT) and its applications are often a key source of long-run growth. Yet the successful exploitation of increasing returns calls for coordination on a particular technological direction, reducing flexibility and...

Previous research on airline demand has recognized the existence of at least two customer types, business passengers with high valuations of time and low price elasticity, and tourists having low valuations of time and high price elasticity. Attempts to differentiate between these two groups...

The telecommunications industry has been affected by innovation and technological changes. Technological changes combined with judicial rulings and policy changes have led to a radical restructuring of the industry. The effects of restructuring on the firms, the consumers, and the role of...