1.0 INTRODUCTION In the past few decades, U.S. businesses have made large investments in information technology (IT), without decisive evidence about the value of such investments [1]. A natural question that arises in this context is whether managers have wasted organizational resources through large investments in IT. In his well-known free cash flow hypothesis, Michael Jensen argues that man...

In 1876, Alexander Graham Bell invented what he called his “electrical speech machine,” modernly known as the telephone [2]. For several years after its invention, the telephone was known only to be nothing more than a laboratory experiment. Shortly after the turn of the century, however, came the advent of circuit switched networks, allowing for the efficient global deployment of telephones. T...

Conversion of C2 to C3 compounds is used by nature in abundant processes such as photorespiration but comes at the cost CO2 release. Erb and co-workers recently published an article Nature Catalysis describing a synthetic pathway able convert through carbon fixation step. As climate crisis becomes more urgent, we must tackle major contributors change using collection creative solutions. The con...

Abstract Research in recent years suggests that fairness concerns could mitigate hold-up problems. In this study, we report theoretical analysis and experimental evidence on an opposite possibility: also induce our setup, problems will not occur with purely self-interested agents, but theoretically be induced by demand for distributional among agents without sufficiently strong counteracting fa...

We develop a general equilibrium model with heterogeneous fi rms à la Melitz (2003), where both the government and fi rms can invest into R&D to improve the country’s technological potential. A higher technological potential raises the average productivity of fi rms, thus implying lower consumer prices, and eventually leads to a welfare gain. The government’s public and fi rms’ private investme...