The diffusion of health care technology is influenced by both the total market share of managed care organizations as well as the level of competition among them. This paper differentiates between HMO penetration and competition and examines their relationship to the adoption of cardiac...

This paper analyzes the effects of different sources of R&D funding and patent office attributes on the patenting process. Another important contribution is modeling the effect of a random delay in the ‘pendency’ time as a stochastic process and quantifying its effect on patenting. The...

The notion that lack of knowledge undermines the economic performance of African countries is deeply and widely held to be true. Yet evidence for the basis of that truth is few and far in-between. This paper first describes a production function approach to the creation of knowledge of African...

Most economic models implicitly or explicitly assume that interactions between economic agents are 'global' - in other words, each agent interacts in a uniform manner with every other agent. However, localized interactions between microeconomic agents are a pervasive feature of reality. What are...

This paper studies models where the correspondences (or functions) under consideration are never increasing (or weakly decreasing) in endogenous variables, and weakly increasing in exogenous parameters. Such models include games of strategic substitutes, and include cases where additionally,...

The current literature on irreversible investment decisions usually makes the assumption of a constant interest rate. We study the impact of interest rate and revenue variability on the decision to carry out an irreversible investment project. Given the generality of the valuation problem...