Today, ‘innovation' is a priority all over the world, particularly in emerging markets. The President of India declared this decade the ‘Innovation Decade'. In emerging markets the word means much more than catching up by imitating innovative policies and firms from more developed economies....

To analyze the effect of asset inequality on cooperation within a group, we consider a two-player noncooperative model of conservation of a common-pool resource (CPR): a fishery. We give necessary and sufficient conditions such that conservation is a Nash equilibrium, and we show that increasing...

Though widespread, the practice of public subsidies for cultural activity lacks a rigorous and consistent economic rationale. We analyze a canonical market structure that characterizes much cultural activity: the competition of mass-produced goods with heterogeneous non-standardized goods that...