Innovation plays an essential role in economic growth. Every year, governments, private enterprises, and venture capitalists (VCs) invest billions of dollars and other resources in research and development (R&D) to foster innovation. Often, they are targeting the same group of consumers. This raises a crucial question for innovation investors. How should ... 阅读更多

Many innovative products are designed to satisfy the demand of specific target consumers; thus, the innovators will inevitably compete with each other in the product market. We investigate how a profit-maximizing principal should properly allocate her limited resources to support the innovations of multiple potentially competing innovators. We find that ... 阅读更多

Studies show online reviews can improve market efficiency and consumer welfare. Assistant Professor HUANG Yangguang, Department of Economics, HKUST Business School Reputation systems operated by online platforms play an important role in mitigating the problems caused by asymmetric information in internet marketplaces. Successful reputation systems can ... 阅读更多