This paper develops a three stage oligopoly game for R&D cooperation, R&D expenditure and product market competition. In the first stage, firms decide whether or not to conduct R&D in cooperation with other firms. In the second stage the level of R&D investment is determined. Finally, firms...

This paper aims at providing business survey analysts with simple econometric tools to quantify qualitative survey data. We extend the traditional and commonly applied method proposed by Carlson and Parkin (1975) to capture observable survey respondent heterogeneity. We also discuss...

This paper investigates the determinants of transaction price changes during BUND-future trading at Deutsche Terminbörse (DTB) and London International Financial Futures Exchange (LIFFE). The analysis uses the ordered probit model, which is an econometric tool that is comparatively new to the...

The impact of technology on the demand for heterogeneous labor is controversely discussed throughout the literature. New technology which is said to favor high skilled labor and to substitute low skilled labor is often considered as the main reason for the decline in relative demand for low...

In this paper, four commonly provided explanations for the shift in labour demand for different skill groups are investigated: the substitutability of inputs; the own-price sensitivity for different types of labour; the effect of economic growth and the impact of technological change. In...

This paper analyses the degree to which firms expect to be able to enter new markets, to develop new products and to contend with new foreign competition after the introduction of the Euro. Panel data taken from a quarterly business survey in the service sector are used for the empirical...