From a firm’s perspective, the emergence of a new technology wave is a new opportunity to generate a financial return. The question is precisely how. That topic remains as salient today, in the era of artificial intelligence, as it was when firms first encountered smartphones, the commercial internet, and personal computers. Before we fully embrace …
Exit, Tweets and Loyalty
That is the title of a new paper by Avi Goldfarb, Mara Lederman and myself. In 1970, Albert Hirschman wrote a widely read book, Exit, Voice and Loyalty, whereby he noted that economists relied solely on a particular mechanism -- exit -- to think about how organisations that aren't performing well are disciplined. Don't like …

