Professor Sorenson’s research interests include economic geography, economic sociology, entrepreneurship, organizational ecology, the sociology and management of science and technology, and business and corporate strategy. His most extensive line of research examines how social networks affect transactions, thereby shaping the geography and evolution of industries.
|In the next five years, the blockchain will have a transformative effect on finance in emerging markets.||Disagree||5||“Blockchain may reduce transaction costs and the extent of corruption, but many types of contracts will still depend on local institutions for enforcement.”|
|In the absence of a carbon tax, industry self-regulation can help mitigate the worst fallout from climate change.||Strongly Disagree||7|
|Amazon’s new $15 per hour minimum wage will force other companies to follow suit.||Agree||6||“I do not think that these spillovers would come from direct competition in the labor market but rather from political pressure. If a firm that has been pushing prices for consumers down can still pay a reasonable wage, what excuse do others have for not doing so?”|
|Restrictions on skilled immigration will cause US firms to to shift more operations overseas.||Agree||5||“If firms cannot get the talent that they need at home, they will need to shift more work abroad. But the upward wage pressure could also lead more U.S. citizens to pursue the jobs in question.”|
|Uber has to develop self-driving cars in the next 10 years in order to remain viable.||Strongly Agree||7||“I’m not sure that Uber is viable now. But to the extent that they need self-driving cars, it seems that they could purchase them from a company with more expertise in autos or AI (e.g., GM or Tesla).”|
|A trade war will be more disruptive to business than to consumers.||Strongly Agree||9||“Consumers can more easily adjust what they choose to buy than businesses can shift the locations of their supply chains.”|
|Concern over consumer privacy will fundamentally limit businesses’ ability to use big data.||Agree||6||“Firms can benefit even from anonymous data, and they will try to skirt regulations, but the EU will probably lead the way in imposing limits.”|