The affordances introduced by digital technologies are reshaping consumption practices. Individuals are now engaging in networks rather than markets, and ownership-based consumption is giving way to the previously unattractive access-based, collaborative consumption. Such consumption practices produce different relationships between objects and personal identity, on which there is limited resea...

The paper studies the patterns of volatility in firm-specific growth rates and stock prices during the early phase of the life-cycle of an old economy industry, the US automobile industry from 1900–1930, and a new economy industry, the US PC industry from1974–2000. Strikingly similar patterns of volatility are discovered in the early phases of the two industries. The comparison sheds light on t...

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Charting the :volution and strategic direction of wireless communications networks in times of great change to maintain a competitive advantage for a wireless carrier is very complex. The new economy has created a new competitive landscape with much uncertainty that is affecting the networkplanningprocess. Several reasons account for the changes taking place in many industries’ competitive land...

This paper examines how much structural change there was in the U.S. economy in the last half of the 1990s. The results are consistent with the hypothesis that there was only one major structural change, namely the huge increase in stock prices relative to earnings. All other large changes can be explained by this change. There is no obvious reason for the large increase in stock prices relativ...