This paper modifies a standard model of law enforcement to allow for learning by doing. We incorporate the process of … enforcement learning by assuming that the agency’s current marginal cost is a decreasing function of its past experience of … ability of future apprehension at a lower marginal cost. We focus on the impact of enforcement learning on optimal compliance …

We propose a dynamic efficiency wage model with learning by doing. By taking into account the change inthe stock of …

This paper highlights formally the interaction existing between the quality of institutional governance, the education … sector and economic growth. More fundamentally, we show how the quality of institutional governance matters in giving …

This paper is a theoretical introduction to modern governance of universities in developing countries. Indeed, adopting …

links between the quality of governance, financial development and economic development. The main theoretical predictions …

-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale …

The prize system for innovation has been criticized as impractical due to the lack of a workable formula or algorithm … can function to duplicate Pareto optimality. Under this system, any bountiable innovation is placed in the public domain …, and the prize of innovation is dynamically amortized in an infinitely time domain as periodic bounties paid to holders of …

can deliver along the balanced growth path a plausible innovation rate of 2.84% per year and an economy-wide markup rate …

The prize system for innovation has been criticized as impractical due to the lack of any workable formula or algorithm … can function to duplicate Pareto optimality. Under this system, any bountiable innovation is placed in the public domain …, and the prize of innovation is dynamically amortized in an infinite time domain as periodic bounties paid to holders of …

aggressive development of a basic innovation by better informed venture-backed firms is used as a signaling device to enhance the … sale price of the innovation. We then show that incumbents can undertake early, preemptive, acquisitions to prevent such … signaling driven overinvestment, despite the risk of buying a non-productive innovation. Therefore, to exist in equilibrium …