Using a sample of fisheries managed under the Magnuson Act, a probit model of the probability of property rights adoption is estimated. The probability of adoption increases as ex–vessel revenue increases and as proxies for transaction costs decrease.

The Washington Consensus suffers from fundamental inadequacies, and that a more comprehensive framework of the economic process is needed to guide the formulation of country-specific development strategies. The following five propositions summarise the set of interrelated arguments made in this...

This paper analyzes the optimal choice of pricing schedules and technological deterrence levels in a market with digital piracy, when legal sellers can sometimes control the extent of piracy by implementing digital rights management (DRM) systems. It is shown that the seller's optimal pricing...

The Washington Consensus suffers from fundamental inadequacies, and that a more comprehensive framework of the economic process is needed to guide the formulation of country-specific development strategies. The following five propositions summarise the set of interrelated arguments made in this...

Intellectual Property Intensity (IPI) measures the weight of IP in the firm’s total market value. IPI has a positive (convex) functional relationship with Price to Book (P/B) ratio, and thus may provide additional economic insight to the empirical value-growth effect. Growth firms have higher...

Examines the productivity performance of the wholesale and retail trade sectors in light of their significant contribution to Australia’s record productivity performance in the 1990s. Fundamental changes in the nature and operations of wholesale trade, in particular, have brought marked...

This paper shows the differences between how benefits are estimated and how they are distributed, calls attention to the policy variables that are crucial in explaining certain distributional outcomes, explores the importance of looking at the demand for characteristics when trying to benefit...