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Felix Oberholzer-Gee is a Swiss academic. [1] He is the Andreas Andresen Professor of Business Administration in the Strategy Unit at Harvard Business School. A member of the faculty since 2003, Professor Oberholzer-Gee received his master's degree, summa cum laude, and his Ph.D. in Economics from the University of Zurich. [2]
Oberholzer-Gee and Koleman Strumpf wrote The effect of file sharing on record sales: An empirical analysis, which was published in 2007; and in 2008 was cited during the Pirate Bay trial.
Their analysis indicated that file-sharing of music had negligible impact on CD sales, though this has been disputed by the recording industry [3] and other [4] researchers. [5] [6] However these critiques were never peer reviewed (unlike the original paper) and the authors have received significant funding from the record industry.
Grokster Ltd. was a privately owned software company based in Nevis, West Indies that created the Grokster peer-to-peer file-sharing client in 2001 that used the FastTrack protocol. Grokster Ltd. was rendered extinct in late 2005 by the United States Supreme Court's decision in MGM Studios, Inc. v. Grokster, Ltd. The court ruled against Grokster's peer-to-peer file sharing program for computers running the Microsoft Windows operating system, effectively forcing the company to cease operations.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
A price war is a form of market competition in which companies within an industry engage in aggressive pricing strategies, “characterized by the repeated cutting of prices below those of competitors”. This leads to a vicious cycle, where each competitor attempts to match or undercut the price of the other. Competitors are driven to follow the initial price-cut due to the downward pricing pressure, referred to as “price-cutting momentum”.
Prediction markets, also known as betting markets, information markets, decision markets, idea futures or event derivatives, are open markets that enable the prediction of specific outcomes using financial incentives. They are exchange-traded markets established for trading bets in the outcome of various events. The market prices can indicate what the crowd thinks the probability of the event is. A prediction market contract trades between 0 and 100%. The most common form of a prediction market is a binary option market, which will expire at the price of 0 or 100%. Prediction markets can be thought of as belonging to the more general concept of crowdsourcing which is specially designed to aggregate information on particular topics of interest. The main purposes of prediction markets are eliciting aggregating beliefs over an unknown future outcome. Traders with different beliefs trade on contracts whose payoffs are related to the unknown future outcome and the market prices of the contracts are considered as the aggregated belief.
Mark Barr McClellan is the director of the Robert J Margolis Center for Health Policy and the Margolis Professor of Business, Medicine and Health Policy at Duke University. Formerly, he was a senior fellow and director of the Health Care Innovation and Value Initiative at the Engelberg Center for Health Care Reform at The Brookings Institution, in Washington, D.C. McClellan served as commissioner of the United States Food and Drug Administration under President George W. Bush from 2002 through 2004, and subsequently as administrator of the Centers for Medicare and Medicaid Services from 2004 through 2006.
Michael Eugene Porter is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, and was one of the founders of the consulting firm The Monitor Group and FSG, a social impact consultancy. He is credited for creating Porter's five forces analysis, which is instrumental in business strategy development at present. He is generally regarded as the father of the modern strategy field. He is also regarded as one of the world's most influential thinkers on management and competitiveness as well as one of the most influential business strategists. His work has been recognized by governments, non governmental organizations and universities.
Path dependence is a concept in economics and the social sciences, referring to processes where past events or decisions constrain later events or decisions. It can be used to refer to outcomes at a single point in time or to long-run equilibria of a process. Path dependence has been used to describe institutions, technical standards, patterns of economic or social development, organizational behavior, and more.
The Profit Impact of Market Strategy (PIMS) program is a project that uses empirical data to try to determine which business strategies make the difference between success and failure. It is used to develop strategies for resource allocation and marketing. Some of the most important strategic metrics are market share, product quality, investment intensity and service quality. One of the emphasized principles is that the same factors work identically across different industries. The business management authors Tom Peters and Nancy Austin wrote that PIMS "yields solid evidence in support of both common sense and counter-intuitive principles for gaining and sustaining competitive advantage".
The loyalty business model is a business model used in strategic management in which company resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed. A typical example of this type of model is: quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability.
Roland Gerhard Fryer Jr. is an American economist and professor at Harvard University. Following a difficult childhood, Fryer earned an athletic scholarship to the University of Texas at Arlington, but once there chose to concentrate instead on academics. Graduating cum laude in 2+1⁄2 years, he went on to receive a Ph.D. in economics from Pennsylvania State University in 2002 and completed postdoctoral work at the University of Chicago with Gary Becker. He joined the faculty of Harvard University and rapidly rose through the academic ranks; in 2007, at age 30, he became the second-youngest professor, and the youngest African-American, ever to be awarded tenure at Harvard. He has received numerous awards, including a MacArthur Fellowship in 2011 and the John Bates Clark Medal in 2015.
Peer-to-peer file sharing is the distribution and sharing of digital media using peer-to-peer (P2P) networking technology. P2P file sharing allows users to access media files such as books, music, movies, and games using a P2P software program that searches for other connected computers on a P2P network to locate the desired content. The nodes (peers) of such networks are end-user computers and distribution servers.
File sharing is the practice of distributing or providing access to digital media, such as computer programs, multimedia, documents or electronic books. Common methods of storage, transmission and dispersion include removable media, centralized servers on computer networks, Internet-based hyperlinked documents, and the use of distributed peer-to-peer networking.
In the first decade of the 21st century, the rise of digital media on the internet and computers as a central and primary means to record, distribute, store, and play music caused widespread economic changes in the music industry. The rise of digital media with high-speed internet access fundamentally changed the relationships between artists, record companies, promoters, retail music stores, the technology industry, and consumers. The rise of digital music consumption options contributed to several fundamental changes in consumption. One significant change in the music industry was the remarkable decline of conventional album sales on CD and vinyl. With the à la carte sales models increasing in popularity, consumers no longer downloaded entire albums but rather chose single songs.
The Pirate Bay trial was a joint criminal and civil prosecution in Sweden of four individuals charged for promoting the copyright infringement of others with the torrent tracking website The Pirate Bay. The criminal charges were supported by a consortium of intellectual rights holders led by the International Federation of the Phonographic Industry (IFPI), who filed individual civil compensation claims against the owners of The Pirate Bay.
Frank T. Rothaermel is a professor in the Scheller College of Business at the Georgia Institute of Technology and an Alfred P. Sloan Industry Studies Fellow. He holds the Russell and Nancy McDonough Chair of Business.
The hedonic music consumption model was created by music researchers Kathleen Lacher and Richard Mizeski in 1994. Their goal was to use this model to examine the responses that listening to rock music creates, and to find if these responses influenced the listener's intention to later purchase the music. The article begins with a discussion of why the issue of music consumption is important. Music is then explored as an aesthetic product, prior to a discussion of what hedonic consumption is, as well as its origins, and concludes with an in-depth look at the model itself.
Sven A. Haugland is a Norwegian organizational theorist and Professor of industrial marketing and strategy at the Norwegian School of Economics, known for his work on marketing in the service industry, and measuring Strategic alliance performance.
Judith Chevalier is the William S. Beinecke Professor of Finance and Economics at Yale University. She is also a Fellow of the Econometric Society, a member of the American Academy of Arts and Sciences, a former co-editor of the American Economic Review and of the RAND Journal of Economics. In 1998, she was the first to receive the Elaine Bennett Research Prize.
Richard Post Rumelt is an American emeritus professor at the University of California, Los Angeles Anderson School of Management. He joined the school in 1976 from Harvard Business School.
Strategy researchers want to understand differences in firm performance. For example, what can explain performance differences between Toyota’s cars business and Samsung’s mobile phones business? Studies show that just three effects account for most performance differences between such businesses: the industry to which a business belongs, the corporation it is part of, and the business itself.
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