This report provides an overview on the economics of attention intermediaries. It addresses the following questions: What are the economics of attention intermediaries? For competition policy, how should markets be defined and market power of attention intermediaries be assessed? What theories...

We develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of traders. In a bubble, the price of an asset rises dynamically above its steady-state value, justified by rational expectations about future price developments. The larger the...

We develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of traders. In a bubble, the price of an asset rises dynamically above its steady-state value, justified by rational expectations about future price developments. The larger the...

The use of file-sharing technologies, so-called Peer-to-Peer (P2P) networks, to copy music files has become common since the arrival of Napster. P2P networks may actually improve the matching between products and buyers - we call this the matching effect. For a label the downside of P2P networks...

Suchmaschinen ermöglichen Nutzern einen schnellen Zugang zu Informationen, die sie konkret suchen oder die sie durch die Suchmaschine entdecken. Sie haben sich zu wichtigen Informationsintermediären entwickelt. Aufgrund ihrer zentralen Rolle in der Informationsvermittlung und der...

This article reviews recent theoretical contributions on digital piracy. It starts by elaborating on the reasons for intellectual property protection, by reporting a few facts about copyright protection, and by examining reasons to become a digital pirate. Next, it provides an exploration of the...

Der vorliegende Beitrag gibt einen Überblick über die wesentlichen ökonomischen Aspekte der so genannten Sharing-Economy. Bei den dort tätigen Unternehmen handelt es sich zumeist um Plattformen, die direkte Transaktionen zwischen Akteuren mit dem Zweck einer temporären Nutzung dauerhafter...