Markets and New Product Development: A New Institutional Economics Perspective

In recent years, it has become increasingly apparent that some of the key teachings of classic economic theory do not fit today’s business environment. Though firms try to follow economic logic, the nature of innovation strains their capacity to do so. From the inadequacy of classic economic theory to explain the constraints acting on firms, New Institutional Economics (NIE) was born. Combining several approaches, including … [ Read more ]

A New Look at the Life-cycle Theory of Relationships

How customers perceive or feel about a firm changes over time. Building trust and a mutually satisfying relationship with customers is an important goal for many organizations. Understanding how these relationships build and deteriorate is thus critical. By helping shed light on that process, this study by Professors Sandy Jap and Erin Anderson offers some important insights into relationship management.