Empirical analysis [see, e.g., McDonald (1985)] suggests that partial vertical integration is a widespread phenomenon. However, there are hardly any theoretical explanations for this composition of industries. Both Arrow (1975) and Green (1986) explicitly allow for partial integration to occur. The former author takes the need for information to be the driving force behind vertical integration,...

Does recent growth of darknet markets signify a slow reorganisation of the illicit drug trade? Where are darknet markets situated in the global drug supply chain? In principle, these platforms allow producers to sell directly to end users, bypassing traditional trafficking routes. And yet, there is evidence that many offerings originate from a small number of highly active consumer countries, r...

This paper uses a simplified version of classical information theory to improve understanding of the dynamic potential of innovation systems in developing countries with a special focus on issues of agricultural poverty. Using examples drawn from emergent knowledge markets in industrialised countries, the paper suggests that such an analytical approach focuses attention directly on the types of...

Bidirectional transformation (bx) approaches provide a systematic way of specifying, restoring, and maintaining the consistency of related models. The current diversity of bx approaches is certainly beneficial, but it also poses challenges, especially when it comes to comparing the different approaches and corresponding bx tools that implement them. Although a benchmark for bx (referred to as a...

In liberalized electricity markets strategic firms compete in an environment characterized by fluctuating demand and non-storability of electricity. While spot market design under those conditions by now is well understood1, a rigorous analysis of investment incentives is still missing. Existing models, as the peak-load-pricing approach, analyze welfare optimal investment and find that optimal ...

Museum exhibits offer particular challenges for the design of interactive installations, as visitors usually cannot directly interact with artefacts. This paper presents a depth-sensor based system for interaction via pointing gestures that we developed for an interactive museum installation (IMI), permanently installed in a showcase of the grave of a Germanic princess. Users interact by walkin...