We survey recent work on competition in markets in which consumers have costs of
switching between competing firms' products. In a market with switching costs (or “brand …

Switching costs and network effects bind customers to vendors if products are incompatible,
locking customers or even markets in to early choices. Lock-in hinders customers from …

Given incomplete factor markets, appropriate time paths of flow variables must be chosen to
build required stocks of assets. That is, critical resources are accumulated rather than …

This paper develops new techniques for empirically analyzing demand and supply in
differentiated products markets and then applies these techniques to analyze equilibrium in …

Based on their pathbreaking work in the application of principal-agent theory to questions of
regulation, Laffont and Tirole develop a synthetic approach, with a particular, though not …

This book provides a framework for thinking about economic instiutions such as firms. The
basic idea is that institutions arise in situations where people write incomplete contracts and …

Economics has much to do with incentives--not least, incentives to work hard, to produce
quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this …

How can boards be chosen through a process partially controlled by the CEO, yet, in many
instances, still be effective monitors of him? We offer an answer based on a model in which …

This is the first book to provide a systematic treatment of the economics of antitrust (or
competition policy) in a global context. It draws on the literature of industrial organisation …

Utilizing a unique data set, Zoltan Acs and David Audretsch provide a rich empirical analysis
of the increased importance of small firms in generating technological innovations and their …