This paper examines how a radical technological innovation affects alliance formation of firms and subsequent network structures. We use longitudinal data of interfirm R&D collaborations in the biopharmaceutical industry in which a new technological regime is established. Our findings suggest...

We study a two-stage R&D project with an abandonment option. Two types of uncertainty influence the decision to start R&D. Demand uncertainty is modelled as a lottery between a proportional increase and decrease in demand. Technical uncertainty is modelled as a lottery between a decrease and...

This paper considers a simple Continuous Beliefs System (CBS) to investigate the effects on price dynamics of several behavioral assumptions: (i) herd behaviour; (ii) a-synchronous updating of beliefs; and (iii) heterogeneity in time horizons (memory) among agents. The recently introduced...

We evaluate the impact of technology adoption subsidies on in- vestment behavior in an individual choice experiment. In a laboratory setting professional managers are confronted with an intertemporal decision problem in which they have to decide whether or not to search for, and possibly adopt,...

This paper studies patenting decisions by firms in relation to the negotiation and signing of the Helsinki and Oslo protocol as part of the Convention on Long-Range Transboundary Air Pollution. We use a uniquely constructed patent data set on SO2 abatement technologies filed in 15 signatory and...

This paper addresses the issue of the choice of the optimal instrument to sell new shares, this choice being price versus quantity discrimination (rationing). Previous results in the literature (Benveniste and Wilhelm, 1990) show that the issuing firm would be better off if allowed to use both...

Most empirical studies assume only monotonic preferences for households. Behavioral research however provides substantial evidence that preferences for wealth are measured relative to a reference point. In this paper we introduce and solve a two-period consumption and savings model for a...

Organizational theory has construed complexity as an objective characteristic of either the structure or the behaviour of an organization. We argue that to further our understanding it should be understood in terms of human cognition of a structure or behavior. This cognitive twist is...

Evolutionary and environmental economics have a potentially close relationship. This paper reviews past and identifies potential applications of evolutionary concepts and methods to environmental economics. This covers a number of themes: resource use and ecosystem management; growth and...

How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this question, a model of endogenous technological change is used where sustained growth stems from intentional investments in R&D from profit-maximizing firms. The uncertainty arises...