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The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.

Analysis of Information Options offers new tools for evaluating investments in research, mineral exploration, logistics, energy transmission, and other information operations. With Information Options, the underlying assets are information assets and the rules governing exercise are based on the realities of the information realm (infosphere). Information Options can be modeled as options to “purchase” information assets by paying the cost of the information operations involved. Information Options arise at several stages of value creation. The initial stage involves observation of physical phenomena with accompanying data capture. The next refinement is to organize the data into structured databases. Then bits of information are selected from storage and synthesized into an information product (such as a management report). Next, the information product is presented to the user via an efficient interface that does not require the user to be a field expert. Information Options are similar in concept to real options but substantially different in their details, since real options have physical objects as the underlying assets and the rules governing exercise are based on the realities of the physical world. Also, while exercising a financial option typically kills the option, Information Options may include multiple exercises. Information Options may involve high volatility or jump processes as well, further enhancing their value. This chapter extends several important real option applications into the information realm, including jump process models and models for valuing options to synthesize any of n information items into any of m output assets.

In this paper, I explore what shapes the identities of digital nomads (DNs), a class of remote workers who travel and work concurrently. Through extensive fieldwork and interviews with 50 digital nomads conducted in seven coworking hostels in Mexico in 2022, I construct a theory of DN identity. I base this upon the frequent transformations they undergo in their Circumstances, which regularly change their worker identity.

DNs relinquish traditional social determinants of identity, such as nationality and religion. They define their personal identities by their passions and interests, which are influenced by the people they meet. DNs exist in inherently transitive social spaces and, without rigid social roles to fulfil, they represent themselves authentically. They form close relationships with other long-term travellers to combat loneliness and homesickness. Digital nomads define their worker identities around their location independence. This study shows that DNs value their nomadic lifestyle above promotions and financial gain. They define themselves by productivity and professionalism to ensure the sustainability of their lifestyle. Furthermore, digital nomad coworking hubs serve focused, individual work, leaving workplace politics and strict ‘office image’ norms behind. Without fixed social and professional roles to play, digital nomads define themselves personally according to their ever-evolving passions and the sustainability of their nomadic life. Based on these findings, I present a cyclical framework for DN identity evolution which demonstrates how relational, logistical, and socio-personal flux evolves DN’s worker identities.