Economic inequalities have been increasing in many countries since the 1980s provoking calls for more income redistribution. One argument against increased redistribution is that it could hamper innovation and technological progress. To the best of our knowledge, this is the first paper that...

This Article argues that the current foreclosure crisis illustrates how economic stability and racial justice are intertwined. Recent research has found that the more racially segregated a metropolitan region is, the higher the number and rate of its foreclosures. Indeed, the high levels of...

This paper investigates how the individual adoption decisions within a neighborhood are influenced by the properties of the clusters to which they belong, and second, whether certain local neighborhoods (which we term predictive neighborhoods) can be reliable predictors of overall network...

This paper contains an empirical dynamic model of supply and demand in the market for digital cameras with endogenous product innovation. On the demand side, heterogeneous consumers time optimally the purchase of goods depending on the expected evolution of prices and characteristics of...

European energy consumers who previously had a rather passive, consuming role, and were confronted with top-down determined energy supply options, services, as well as prices, are now assuming a more proactive role, in some cases becoming prosumers of energy. Originally the focus of both...

This paper addresses concerns that the U.S. payment system is not keeping up with the rest of the digital economy in providing new methods of payment that give consumers immediate access to and use of their deposits held in accounts with banks and other deposit-taking institutions ("banks" for...

As a useful complement to numerous innovation policy studies from a normative perspective, this paper provides a positive framework to analyze the basic economic mechanism of energy technological innovation and explains its slow pace of technological progress. We find that the...