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Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...
Persistent link: https://www.econbiz.de/10012480205
monopolist incumbent (the Great Northern Railway), offers a lucid empirical example of strategic behavior, and in particular the …
Persistent link: https://www.econbiz.de/10014576577
strength of intermodel competition, competition in downstream markets and traffic density would all influence the approach …
Persistent link: https://www.econbiz.de/10012469107
In this paper we examine the causal impact of competition on management quality. We analyze the hospital sector where … geographic proximity is a key determinant of competition, and English public hospitals where political competition can be used to … survival rates from emergency heart attack admissions (AMI). More importantly, we find that higher competition (as indicated by …
Persistent link: https://www.econbiz.de/10012462620
We develop a general equilibrium model in which stock prices of innovative firms exhibit "bubbles" during technological revolutions. In the model, the average productivity of a new technology is uncertain and subject to learning. During technological revolutions, the nature of this uncertainty...
Persistent link: https://www.econbiz.de/10012466795
Persistent link: https://www.econbiz.de/10012480214
Tech clusters like Silicon Valley play a central role for modern innovation, business competitiveness, and economic … performance. This paper reviews what constitutes a tech cluster, how they function internally, and the degree to which policy …
Persistent link: https://www.econbiz.de/10012481616
agglomeration of US innovation. This study applies an ethnic-name database to individual US patent records to explore these trends …
Persistent link: https://www.econbiz.de/10012463148
This chapter reviews academic research on the connections between agglomeration and innovation. We first describe the … conceptual distinctions between invention and innovation. We then describe how these factors are frequently measured in the data …, industrial diversity) that theoretical and empirical work link to innovation, and we discuss factors that help sustain these …
Persistent link: https://www.econbiz.de/10012458300
This paper reviews recent academic work on the spatial concentration of entrepreneurship and innovation in the United … identify and discuss policies that are being pursued in the United States to encourage local entrepreneurship and innovation …
Persistent link: https://www.econbiz.de/10012459649