Twenty four patients with severe brain injury who had disturbed behaviours preventing rehabilitation or care in ordinary settings were treated in a token economy. This long-term follow-up study indicates that post-traumatic behaviour disorders can be lastingly improved, and that lengthy rehabilitation can have surprisingly good effects.

A generalized measure of market power is derived that accounts for both supply expansion by the competitive fringe and multi-market participation by the dominant firm. Traditional market power measures are shown to be biased-upward (downward) in the case of complements (substitutes). Numerical simulations suggest that this bias can be pronounced. These findings have potentially important implic...

This paper explores the story behind a crowdfunding service as an example of sharing technology. Research in a small neighborhood of London showed how locally-developed initiatives can differ in tone, scale, ambition and practice to those getting attention in the so-called sharing economy. In local accounts, we see an emphasis on organizing together to create shared spaces for collaborative use...

We investigate the effects of mobile-sourced ridesharing via platforms like Uber, Lyft, and Didi Chuxing on the use of public transit systems. Our study uses trip-level data about Uber usage in New York City, turnstile data about subway usage, and trip-level data about taxicab and shared bike usage. We find that on the surface, ridesharing and subway usage are positively correlated. Exploiting ...

We propose a general model of monopolistic competition, which encompasses existing models while being flexible enough to take into account new demand and competition features. The basic tool we use to study the market outcome is the elasticity of substitution at a symmetric consumption pattern, which depends on both the per capita consumption and the total mass of varieties. We impose intuitive...

Mobile Commerce oder Mobile Business sind Begriffe, die immer häufiger in den verschiedensten Medien in den unterschiedlichsten Zusammenhängen zu finden sind. Ist Mobile Commerce dabei nur ein Begriff, der viel verspricht, aber letztendlich nur die Milliardeninvestitionen der Telekommunikationsunternehmen rechtfertigen soll? Oder ist das ein neuer „Hype“, der die abstürzenden Kurse der New Econ...

These notes were prepared to explore ideas developed in a panel discussion at Financial Cryptography 2007.

Industrial districts as local networks of small and medium enterprises (SMEs) rooted their competitiveness in a mix of economic relationships and social ties. Recently, network technologies (ICT) have promised gains of efficiency through a reduction in transaction costs and showed new commercial opportunities for small firms. Despite the attention given to transactions managed electronically, a...

We include learning in a standard equilibrium business cycle model with explicit growth. We use the model to study how the economy’s agents could learn in real time about the important trend-changing events of the postwar era in the U.S., such as the productivity slowdown, increased labor force participation by women, and the “new economy” of the 1990s. We find that a large fraction of the obse...