This paper was previously circulated under the title “Firm Productivity and Learning in the Digital Economy: Evidence from Cloud Computing.” We thank Dan Ackerberg, Vivek Bhattacharya, Noman Bashir, Nick Bloom, Jeffrey Campbell, Eli Cortez, Ulrich Doraszelski (discussant), Luca Fontanelli (discussant), Ambar La Forgia, Sonia Jaffe, Bob Gibbons, Matthew Grennan, Igal Hendel, Patrick Hummel, Gaston Illanes, Kristina McElheran (discussant), Donald Ngwe, Rob Porter, Devesh Raval, Michael Schwarz, Carolyn Stein (discussant), and Neil Thomson, as well as seminar and conference participants at CEPR Industrial Organization Conference; NBER Organizational Economics Meeting; Northwestern University; Rice University; Stanford University; Tilburg University; UBC Sauder School of Business; Utah Business Economics Conference; University of California, Berkeley; University of Maryland; University of Toronto; and ZEW Conference on the Economics of Information and Communication Technologies for their helpful conversations and comments. Aaron Banks provided excellent research assistance. We thank Dan Ackerberg, Vivek Bhattacharya, Noman Bashir, Nick Bloom, Jeffrey Campbell, Eli Cortez, Ulrich Doraszelski (discussant), Luca Fontanelli (discussant), Ambar La Forgia, Sonia Jaffe, Bob Gibbons, Matthew Grennan, Igal Hendel, Patrick Hummel, Gaston Illanes, Kristina McElheran (discussant), Donald Ngwe, Rob Porter, Devesh Raval, Michael Schwarz, Carolyn Stein (discussant), and Neil Thomson, as well as seminar and conference participants at CEPR Industrial Organization Conference; NBER Organizational Economics Meeting; Northwestern University; Rice University; Stanford University; Tilburg University; UBC Sauder School of Business; Utah Business Economics Conference; University of California, Berkeley; University of Maryland; University of Toronto; and ZEW Conference on the Economics of Information and Communication Technologies for their helpful conversations and comments. Aaron Banks provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
James M. Brand
James Brand is a paid employee and minority equity holder at Microsoft (a firm active in the cloud market, which this paper studies).
Mert Demirer
Mert Demirer is a former paid postdoctoral researcher at Microsoft.
Connor Finucane
Connor Finucane is a paid employee and minority equity holder at Microsoft.
Avner A. Kreps
Avner A. Kreps is a former paid intern at Microsoft (a firm active in the cloud market, which this paper studies).
