Network externalities and economies of scale have traditionally provided a competitive advantage to first movers in payment services. Interchange fees have historically been the main mechanism that incumbent payment network providers have used to block or slow entry thorough the payment services...

Research on “modularity” has made an important contribution to the study of technical change and economic institutions. It demonstrates that progress in the division of labor in design (technical modularity) has created new opportunities for the organization of firms beyond vertical...

It is a truth universally acknowledged, that a media company in possession of a good fortune (an audience, brand recognition and decent revenues), must (still) be in want of innovation.The pace of change in our industry means that even the biggest, most successful, companies need to continually...

In recent years, understanding the structure and function of complex networks has become the foundation for explaining many different real-world complex biological, technological and informal social phenomena. Techniques from statistical physics have been successfully applied to the analysis of...

This paper investigates the welfare implications of the rapid innovation in Central Processing Units, and, specifically, asks whether it results in inefficient elimination of basic Personal Computer configurations. I analyze a game in which firms make multiple discrete product choices, and...

This paper analyzes the impact of international trade on a firm's technological choice. Specifically, we examine how income and technological levels of export destination countries affect exporting firms' relative incentives between product innovation and process innovation. Based on an...

In this paper, we examine firm innovation and its link to firm growth. Instead of using the conventional conceptualization and operationalization of innovation in terms of the R&D budget, we use a more elaborate 12-dimensional conceptualization, which takes into account also the...

This exploratory empirical study compares the determinants of innovation in manufacturing and services through descriptive and regression analyses of sales from innovative products and services. The results suggest that, contrary to earlier research, R&D investments play a positive and...

This paper analyses the link between technological product and processes innovations and expectations about future employment for different types of labour in manufacturing. The empirical model allows for endogeneity of the firm?s innovation decision in the labour demand equations. The system of...

Although knowledge spillovers are at the core of the innovation policy's justification, they have never been properly measured by any impact evaluation. This paper fills this gap by estimating the spillover effects of the FONTAR program in Argentina. We use an employer-employee matched panel...