Related papers: Disruptive firms
We develop a probabilistic consumer choice framework based on information asymmetry between consumers and firms. This framework makes it possible to study market competition of several firms by both quality and price of their products. We…
Continuous changes in the technology and the business landscape place high strain on managing knowledge in organisations. Prior researchers highlight a positive connotation with knowledge management competence and organisational…
This study introduces the Disruption Index as a superior citation-based metric. This index quantitatively assesses the degree to which a publication redirects subsequent scholarly attention away from its preceding literature, thus measuring…
In speculative markets, risk-free profit opportunities are eliminated by traders exploiting them. Markets are therefore often described as "informationally efficient", rapidly removing predictable price changes, and leaving only residual…
Digital systems are, by definition, the core of digital transformation. This has led many to think that the system being considered in digital transformation is solely software. I argue that this approach is a fatal mistake, and it has…
The data science revolution has led to an increased interest in the practice of data analysis. While much has been written about statistical thinking, a complementary form of thinking that appears in the practice of data analysis is design…
In a world that constantly changes, it is crucial to understand how those changes impact different systems, such as industrial manufacturing or critical infrastructure. Explaining critical changes, referred to as concept drift in the field…
A growing literature has examined whether innovation is becoming less disruptive, spanning diverse domains and data sources and using a range of methodologies. This paper provides an inventory of 105 studies exploring this question. The…
I prove that competitive market outcomes require computational intractability. If P = NP, firms can efficiently solve the collusion detection problem, identifying deviations from cooperative agreements in complex, noisy markets and thereby…
The combination of diverse, pre-existing knowledge is a common explanation for scientific breakthroughs. However, a paradox exists: while scientific output and the potential for such recombination have grown exponentially, the rate of…
Scientific and technological progress is largely driven by firms in many domains, including artificial intelligence and vaccine development. However, we do not know yet whether the success of firms' research activities exhibits dynamic…
In the digital economy, technological innovations make it cheaper to produce high-quality content. For example, generative AI tools reduce costs for creators who develop content to be distributed online, but can also reduce production costs…
The state of economic theory and accumulated facts from the different branches of the economic science require to analyze the concept of the description of economy systems. The economic reality generates the problems the solution of that is…
We introduce heterogeneous R&D productivities into an endogenous R&D network formation model, generalizing the framework of Goyal and Moraga-Gonz\'alez (2001). Heterogeneous productivities endogenously create asymmetric gains from…
Human creativity is the ultimate driving force behind scientific progress. While the building blocks of innovations are often embodied in existing knowledge, it is creativity that blends seemingly disparate ideas. Existing studies have made…
How nations shape the scientific frontier matters for technological competition, but standard metrics, including publication counts, citations, and disruption indices, look backward and fail to distinguish between fundamentally different…
The development of inventions is theorized as a process of searching and recombining existing knowledge components. Previous studies under this theory have examined myriad characteristics of recombined knowledge and their performance…
Network effects are the added value derived solely from the popularity of a product in an economic market. Using agent-based models inspired by statistical physics, we propose a minimal theory of a competitive market for (nearly)…
The "social-networking revolution" of late (e.g., with the advent of social media, Facebook, and the like) has been propelling the crusade to elucidate the embedded networks that underlie economic activity. An unexampled synthesis of…
The transport sector is witnessing unprecedented levels of disruption. Privately owned cars that operate on internal combustion engines have been the dominant modes of passenger transport for much of the last century. However, recent…