Chad Syverson, 25 July 2010

The internet is changing the way people do business. This column looks at how e-commerce has affected market structure among travel agencies, bookstores, and car dealerships. It suggests that low-cost firms will gain market share and may even become more profitable as e-commerce spreads, while higher-cost firms will be hurt, perhaps fatally.

David Galenson, 04 July 2009

The art of the past century was radically different from earlier art. This column says that that was a direct result of a basic change in the structure of the market for advanced art that occurred during the late nineteenth century. Indeed, contemporary art is the logical result of young conceptual innovators operating in a competitive market that has consistently rewarded radical and conspicuous innovation.

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