Traditional luxury goods companies have treated digital as a channel. But they’re now starting to treat it as a marketplace in its own right, thanks largely to Blockchain technology, which has delivered the Non-Fungible Token. Today, the key ingredients of luxury – rarity, exclusivity, and cost — can also apply to virtual products, as companies like Balenciaga, Louis Vuitton, and Gucci have realized.

Executive Education must be seen as an investment. If we are serious about achieving business impact through training, the first question should be “What business outcomes would we like to see because of this intervention?” Next, we ask questions like “How, where, and when do we need our leaders to perform better to achieve those business outcomes” and “What specific knowledge and skills do we need to equip our leaders with to deliver the improved performance?”. We illustrate this approach through our work with one of the world’s largest commercial vehicle manufacturers, TRATON.

Organizations can make better choices about which R&D projects gain funding by managing bias and involving more people.

This article summarizes the century-old debate whether a patent system spurs innovation or is rather a burden to society.

Two articles explain the genesis and contents of the German IT Security Act 2.0, which was enacted in May 2021. This first article focuses on the origins of the law, the obligations of companies as operators of information technology, and the new regulations on the security of IT products.

The sunk cost effect is one of the most well-known decision making biases. In this article, I describe how my co-authors and I developed an 8-item test comprised of hypothetical scenarios to determine the respondent’s susceptibility to the sunk cost effect. We validate the scale with an incentivized experiment. We also find evidence that experience, rather than smarts, which helps people to avoid falling foul of the effect.