In this paper we investigate the ways in which new forms of organization enabled by digital technologies such as crowdsourcing and digital marketplaces are allowing firms to circumvent and defy traditional knowledge constraints. This is part of the broader question of when and why these forms of...

My essay, in a time of (political) economic crisis, re-examines the fate of the constitutive oxymoron that is political economy from Montchrétien through neoliberalism. Its hero is Adam Smith, who at the end of Book I of Wealth of Nations warns of the destructive consequences of...

The digital economy’s functioning hinges upon the close collaboration of various core elements. Data, as a pivotal production factor, derives its value not in isolation but rather from its intricate connection to physical media, like data processors and storage devices. This paper introduces a...

We present a simple method for “inverting” a volatility smile: that is, generating a CDF and inverse CDF given a discrete set of implied volatilities. The method is based on constructing a piece-wise linear CDF that is guaranteed to exactly reprice any non-arbitrageable input volatilities....