This paper presents a somewhat novel theory of innovation in the economy wide setting. The starting point for this theory is the creative destruction process at the firm and industry level. However, an extension to an economy wide setting requires the explicit theorization of the role of the...

We draw on diverse data sets to compare the institutional organization of upstream life science research across the United States and Europe. Understanding cross-national differences in the organization of innovative labor in the life sciences requires attention to the structure and evolution of...

Innovation plays a central role in economic development, at regional and national level. In the competitive environment companies are obliged to produce more rapidly, more effectively and more efficiently in new product development which is a result of research and development (R&D) activities....

Innovation is becoming the most important key issue for company's success in the 21st century. In the competitive environment it is necessary for the enterprises to put together different capabilities and services with the goal. It is widely accepted that innovation can be better achieved by...

Innovation has become a central theme and challenge in the literature of entrepreneurship, SMEs management, and strategic knowledge management and in the literature of organizational learning. Innovation needs a business environment that is conducive to long-term investments in new business...

This paper reports the results of an experiment designed to assess the ability of an incumbent seller to profitably foreclose a market with exclusive contracts. We use the strategic environment described by Rasmusen, Ramseyer, and Wiley (1991) and Segal and Whinston (2000) where entry is...

In current horizontal merger policy in the US and the EU an explicit efficiency defense is allowed. On both sides of the Atlantic mergers are unconditionally approved if internal efficiencies are sufficient to reverse the mergers’ potential to harm consumers in the relevant market. Current...

Book Review of Ignacio De Leon's "An Institutional Assessment of Antitrust Policy The Latin American Experience" (Wolters Kluwer 2009) Reviewed by A.E. Rodriguez

We develop a model wherein collusive firms' decisions to keep or to destroy the hard evidence is endogenous. Unlike previous literature, we assume that the administration of the cartel crucially depends on the existence of the hard evidence. Within this framework, we explore the impact of a...

We analyze a situation where an antitrust authority delegates to an audit inspector the mission of gathering the sufficient information to condemn a cartel. The authority has two instruments at her disposal: rewarding the inspector with a proportion of the collected fine or providing him with...