vertical relations, a manufacturers merger is harmful to consumers and welfare. …

distortionary market power above full information levels and welfare losses which can be counteracted by subsidies. As the market … welfare losses is 1/ n2 . The results extend to demand schedule competition and a range of applications in product and …

We prove that the change in welfare of a representative consumer is summarized by the current and expected future … while taking prices parametrically. This result justifies TFP as the right summary measure of welfare (even in situations … where it does not properly measure technology) and makes it possible to calculate the contributions of disaggregated units …

Keeping up with rapid technological change necessitates constant innovation. Successful innovation depends on both … implement them. Both of these knowledge-based elements of innovation can be attained through moderate labor force turnover in … innovation within a multivariate regression framework. However, when instrumenting training by the existence of a union …

probit model with self-selection. Our estimation results highlight the fact that firms’ relatedness in technology and product …

enforcement of IPR yields a higher level of innovation and global welfare only if the developing country does not innovate. A … the one hand, free-riding on rich countries technology reduces their investment cost in R&D. On the other hand, firm that … own innovation. The analysis predicts that the willingness to enforce IPR is U-shaped in a country GDP: small …