Recent milestone experiments establishing satellite-to-ground quantum communication are paving the way for development of Internet, a network interconnected by channels. Here, we employ theory to study properties photonic networks that can be generated satellite-based and compare them with those their optical-fiber counterpart. We predict satellites generate small-world networks, implying physi...

In this paper, I ask whether family firms provide stability to their stakeholders at the expense of economic growth. I build a model where current owners of dynastic firms derive private benefits from keeping the control of the firm within the family over the generations. Because these preferences limit the recourse to external finance, they induce family-minded entrepreneurs to invest in small...

Cryogenic cluster beam experiments have provided crucial insights into the evolution of the metallic state from the atom to the bulk. Surprisingly, one of the most fundamental metallic properties, the ability of a metal to efficiently screen electric fields, is still poorly understood in small clusters. Theory has predicted that many small Na clusters are unable to screen charge inhomogeneities...

In d > 4 dimensions, one can argue for the existence of small black rings using a scaling argument. We apply the same scaling argument to the d = 4 case and demonstrate that it fails to say anything about the existence of d = 4 small black rings, because stringy corrections get out of control. General relativity theorems say that there does not exist a black hole with toroidal topology for d = ...

Recent empirical work suggests that small price changes are relatively common. These findings have been used to evaluate competing theories of nominal price rigidities. In this paper we use micro data from the consumer price index and a scanner data set from a national supermarket chain to reassess the importance of small price changes. We argue that the vast majority of these changes are due t...