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For almost two decades, scholars have stressed the need to make the
microfoundations of institutional theory more explicit (DiMaggio and Powell,
1991; Zucker, 1991). Curiously, there has been limi...
Multi-Sided Platforms:From Microfoundations to Design and Expansion Strategies
Multi-Sided Platforms
2015/4/21
Multi-sided platforms (MSPs), which bring together two or more interdependent groups of customers, have recently risen to economic and business prominence in many industries. This paper first lays out...
Microfoundations of Macro Fluctuations: Pattern of Large Numbers, Relative Price Movements, And Arbi
2008/1/17
The law of large numbers shows that the relative deviation for a macro system with N independent elements is of the order of . refore, the Lucas' approach to a microfoundations for macroeconomic fluct...
Ping Chen, "Microfoundations of Macroeconomic Fluctuations and the Laws of Probability Theory: the Principle of Large Numbers vs. Rational Expectations Arbitrage," Journal of Economic Behavior & Organ...