growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs’ choice of riskiness of an innovation … project and on their mode of commercializing the innovation (market entry versus sale). Limited loss offset provisions in the … fundamental policy trade-off between the declared goals of promoting employment and innovation in small, entrepreneurial firms …

stricter, but not too strict, merger and cartel policies tend to increase the incentive for innovations for sale by ensuring … the bidding competition for the innovation and by increasing the relative profitability of being the most efficient firm … innovation for sale, relative to innovation for entry. …

account the negative effect on employment of investment and (ii) a privatizing government has a stronger incentive to invest …

triopoly. Our analysis warns against a mechanical use of pre-merger benchmarks in ex post merger evaluations. …

investment incentives, vertical integration and buyer power, as well as withholding of base-load (nuclear) capacity. …

relationships between investment, productivity, and economic growth are much more complex and unpredictable than commonly assumed …This paper raises several issues concerning productivity analysis. An attempt is made to demonstrate the usefulness of … a micro-based approach to productivity analysis which challenges some basic assumptions of conventional analyses based …

entrepreneurial effort, entrepre-neurial innovation and capital investment. Because of these constraints, the entrepreneurial project … the entrepreneur is unable to decouple savings decisions from investment decisions, and due to the comple-mentarities in …