This paper provides an analysis of why many ‘stars’ tend to fade away rather than enjoying ongoing branding advantages from their reputations. We propose a theory of market overshooting in creative industries that is based on Schumpeterian competition between producers to maintain the...

This unique Handbook explores both the economics of the firm and the theory of the firm, two areas which are traditionally treated separately in the literature. On the one hand, the former refers to the structure, organization and boundaries of the firm, while the latter is devoted to the...

This paper reviews the 2009 Nobel Prize in Economics jointly awarded to Oliver Williamson for his work on governance in organizations and the boundaries of the firm, and to Elinor Ostrom for her work on the governance of common pool resources. We review the careers and the research contributions...

Thaler's deployment of anomalous anecdotes has helped raise the profile of behavioural economics. This paper explores possible uses of other narrative materials as aids to economic research. After examining the use of anecdotes in economics, the paper reviews opportunities to use a wide range of...

This paper draws lessons about the allocation of resources to research aimed at studying the efficiency of consumer decision making in complex, fast-moving markets. These lessons emerged during research involving a large-sample survey of choices of mobile phone service plans by Australian...

The widespread failure of economists to predict the 2008 credit crunch and subsequent Global Financial Crisis led Her Majesty the Queen to ask what had gone wrong. She received very different responses from representatives of mainstream and heterodox perspectives. The mainstream economists'...

This paper examines some of the impacts of the widespread adoption and use of the Internet in advanced countries on business, consumers and the media. It is argued that while capital costs of entry into Internet-based businesses may be very low, this does not guarantee that markets in which such...