The share of finance in U.S. GDP displays large historical variations. I argue, using evidence and theory, that corporate finance is a key factor behind these evolutions. Corporate demand for intermediation depends crucially on the relative investment opportunities of firms with low cash flows (young firms) and firms with high cash flows (incumbents). A simple general equilibrium model is devel...

Multimedia technology is becoming ubiquitous in modern society, and it is having profound effects on institutions and our expectations of the future. The technology is very fluid, and its development is shaped by a great many social factors. Prediction of the co-evolution of multimedia technology and society needs to be informed by a research framework that focuses attention on the key social, ...

Negotiation support systems (NSS) can enhance humans’ performance in negotiations. Much research in this area focuses on finding optimal bids. However, there is little research on human factors in technological negotiation support. We believe an in-depth analysis of the task involving experts and users is needed to build a new generation of NSS focusing on manmachine collaboration. We describe ...