This paper empirically investigates a sample of German domestic merger and acquisitions (M&As) in the 1990s to analyze the importance of a related technology portfolio in the decision to acquire a particular firm. The novelty of this analysis lies in the fact that the sample does not contain...

Open standard-setting organizations (SSOs) have emerged as important coordination and diffusion mechanism for information and communication technologies. Open standards are developed non-discriminatorily and licensed to anybody at reasonable and non-discriminatory terms. Little is known about...

Open standard-setting organizations (SSOs) have emerged as important coordination and diffusion mechanism for information and communication technologies. Open standards are developed non-discriminatorily and licensed to anybody at reasonable and non-discriminatory terms. Little is known about...

Open standard-setting organizations (SSOs) have emerged as important coordination and diffusion mechanism for information and communication technologies. Open standards are developed non-discriminatorily and licensed to anybody at reasonable and non-discriminatory terms. Little is known about...

In light of the increased demand for interoperability, fragmented ownership of intellectual property and high costs for communicating new technologies, open standard-setting activities emerged as important coordination and diffusion mechanism. Little is known about the value of contributions to...

Goldin and Katz's <i>The Race between Education and Technology</i> is a monumental achievement that supplies a unified framework for interpreting how the demand and supply of human capital have shaped the distribution of earnings in the U.S. labor market over the 20th century. This essay reviews the...

Goldin and Katz's The Race between Education and Technology is a monumental achievement that supplies a unified framework for interpreting how the demand and supply of human capital have shaped the distribution of earnings in the U.S. labor market over the 20th century. This essay reviews the...

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and...

I analyze an economy in which firms can undertake both labor- and capital-augmenting technological improvements. In the long run, the economy resembles the standard growth model with purely labor-augmenting technical change, and the share of labor in GDP is constant. Along the transition path,...

In the presence of markup differences, externalities and other social considerations, the equilibrium direction of innovation can be systematically distorted. This paper builds a simple model of endogenous technology, which generalizes existing comparative static results and characterizes...