The penetration speed of global Internet access has been extraordinary in the past decade. This phenomenon results in a near zero-time distribution of digital goods from companies to their customers. It also further reduces the already low “production” costs, where digital goods such as computer software and music songs are stored in CD/DVD, cassette tapes, floppy disks or other similar media, ...

Large sunk cost of development, negligible cost of reproduction and distribution and substantial economies of scale make information goods distinct from industry goods. In this paper, we analyze versioning strategies of horizontally differentiated information goods with shared feature sets, discrete hierarchical groups and continuous individual consumer tastes. Based on our modelling results, w...

Fair division has long been an important problem in the economics literature. In this note, we consider the existence of proportionally fair allocations of indivisible goods, i.e., allocations of indivisible goods in which every agent gets at least her proportionally fair share according to her own utility function. We show that when utilities are additive and utilities for individual goods are...

Online games increasingly sell virtual goods to generate real income. As a result, it is increasingly important to identify factors and theory of consumption values that affect intent to purchase virtual goods in online games. However, very little research has been devoted to the topic. This study is an empirical investigation of the factors and theory of consumption values that affect intent t...

This paper sets up a model to account for differences in total factor productivity due to differences in enforcement of contracts. Vertical specialization generates the need for intra-period credit, because final goods producers cannot pay their intermediate goods suppliers before they produce their final good. The paper shows that if there are enforcement problems, the capital distribution is ...

Why do some urban governing regimes realize a more equal distribution of public goods than others? Local government interventions in São Paulo, Brazil, have produced surprisingly effective redistribution residential — housing and sanitation between 1989 2016. I use original interviews archival research for comparative-historical analysis variation across time Paulo’s governance sanitation. argu...