We predict the amount, share, and value of land dedicated to roadways within and across 316 US Primary Metropolitan Statistical Areas. Despite the amount and value of land dedicated to roadway, our study provides the first such estimate across a broad range of metropolitan areas. Our basic...

Urban flooding poses danger to people and places. People can adapt to this risk by moving to safer areas or by investing in private self-protection. Places can offset some of the risk through urban planning and infrastructure investment. By constructing a global city data set that covers the...

This paper explores the implications of a simple model of learning and innovation by firms. In this model R&D spillovers are partly determined by firms, rather than by the given economic environment. According to this approach the full effect of spillovers on research productivity of firms...

Much of the property damage from wildfires occurs when fires spread into built up areas, the wildland urban interface. Fire spread within such areas occurs from house to house, as embers from one burning structure ignite neighboring ones. Actions can be taken to mitigate the chances that a given...

This paper develops a simple model of a polluting industry and an innovating firm. The polluting industry is faced with regulation and costly abatement. Regulation may be taxes or marketable permits. The innovating firm invests in R&D and develops technologies which reduce the cost of pollution...

We develop a real options model of R&D valuation, which takes into account the uncertainty in the quality of the research output, the time and cost to completion, and the market demand for the R&D output. The model is then applied to study the problem of pharmaceutical under-investment in R&D...

This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. Econometric studies in this area report a plethora of sometimes confusing and frequently...

This paper examines the evidence on technology diffusion through trade in differentiated intermediate goods. Because intermediates are invented through costly research and development (R&D) investments, employing imported intermediates implies an implicit sharing of the technology that was...