Results from portfolio models for credit risk tell us that loan concentration in certain industry sectors can substantially increase the value-at-risk (VaR). The purpose of this paper is to analyze whether a tractable infection modelʺ can provide a meaningful estimate of the impact of...

This paper considers cost-reducing R&D investment with spillovers in a Cournot oligopoly with minority shareholdings. We find that, with high market concentration and sufficiently convex demand, there is no scope for cross-ownership to improve welfare regardless of spillover levels. Otherwise,...

This paper presents a Cournot oligopoly model with R&D spillovers both within and across industries. The aim is to provide an appropri- ate theoretical foundation for three different hypotheses regarding the impact of the local production structure on innovation and output, as well as addressing...

In this paper, we empirically examine how a supplier firm benefits from supply chain technology spillover in its product invention, and how customer concentration mitigates such a positive effect. Using a panel of approximately 1,670 U.S. technology-intensive supplier firms during the period...

This paper presents a Cournot oligopoly model with R&D spillovers both within and across industries. The aim is to provide an appropriate theoretical foundation for three different hypotheses regarding the impact of the local production structure on innovation and output, as well as addressing...

Our article investigates the impact of vertical integration (without foreclosure) on innovation. We compare cases where either (i) two manufacturers or (ii) a manufacturer and a vertically integrated retailer invest. Then, the independent manufacturer(s) and the retailer bargain over non-linear...