This paper studies the economic value of mobile applications (apps) and their effect on firms, particularly highlighting how these apps, by giving access to customer data, enhance firm-specific information environment. Constructing a unique measure of app value using novel data on all mobile...

This paper analyzes the effects of cooperative R&D arrangements in a model with stochastic R&D and output spillovers. Our main innovation is to allow for free entry in both the R&D race and product market. Moreover, in contrast with the literature, we assume that cooperative R&D arrangements do...