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Paper Title: Leading in Experimental Markets: Market and Institutional Infrastructure in the Commercial UAV (unmanned aerial vehicle) Industry
Speakers: Daniel Armanios
Date: Friday, April 30th, 2021
Time: 15:00 to 16:30

We study the infrastructure that can help explain the emergence of experimental markets (e.g., markets with both unclear institutional and technological trajectories). China’s rise as the commercial drone industry leader is an indicative example of such a market. We find that market-input infrastructure that clarifies know-how needed for inputs has a greater association with upstream founding (component firms). Market-output infrastructure that clarifies market fit for resulting products has greater association with downstream founding (end product firms). These effects are substitutive; local governments focus only on one of these forms of market infrastructure to reduce the risks involved in such experimentation and to reduce competition with other cities. Finally, institutional infrastructure that clarifies the rules increase founding, especially in cities with more market infrastructure.

Daniel Erian Armanios is an assistant professor in the Department of Engineering and Public Policy at Carnegie Mellon University, as well as a Distinguished Visiting Professor of Leadership at Tsinghua University’s Schwarzman College and a Distinguished Professor at LUISS (Italy). His research focuses on the institutional infrastructure that supports scientific and physical infrastructure systems, with particular emphasis on their high-tech innovation and entrepreneurship outcomes. Daniel’s work has been presented at numerous conferences, forums, and workshops internationally, leading to journal publications in a variety of leading management, organizational theory, engineering, and scientific outlets such as Organization Science, the Strategic Management Journal, Business & Society, Biomacromolecules, Journal of Construction, Engineering & Management, Journal of Infrastructure Systems, Hydrological Processes, Nature Energy, Nature Sustainability, Proceedings of the National Academy of Sciences, and Sustainable Development. Daniel holds two Bachelor’s degrees from the University of Pittsburgh in Mechanical Engineering (B.S.) and Political Science (Economics Minor) (B.A), two Master’s degrees from the University of Oxford in Management Research (MSc) and Water Science, Policy and Management (MSc), and a PhD from Stanford University in Management Science & Engineering.