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A Theory of Stock Exchange Competition and Innovation : Will the Market Fix the Market?
Budish, Eric B. - 2019
incentives for market design innovation. The novel tension between private and social innovation incentives is incumbents' rents …
Persistent link: https://www.econbiz.de/10012870055
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The Heterogeneous Impact of Market Size on Innovation : Evidence from French Firm-Level Exports
Aghion, Philippe - 2018
We analyze how demand conditions faced by a firm impacts its innovation decisions. To disentangle the direction of … causality between innovation and demand conditions, we construct a firm-level export demand shock which responds to aggregate … that this finding of a skewed innovation response to common demand shocks arises naturally from a model of endogenous …
Persistent link: https://www.econbiz.de/10012919315
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Market Size in Innovation : Theory and Evidence from the Pharmaceutical Industry
Acemoglu, Daron; Linn, Joshua - 2021
This paper investigates the effect of (potential) market size on entry of new drugs and pharmaceutical innovation …
Persistent link: https://www.econbiz.de/10013312522
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Market Structure and Innovation : A Dynamic Analysis of the Global Automobile Industry
Hashmi, Aamir Rafique - 2010
We study the relationship between market structure and innovation in the global automobile industry from 1982 to 2004 … using the dynamic industry framework of Ericson and Pakes (1995). Firms optimally choose a continuous level of innovation in … parameter -- the cost of innovation. In terms of the relationship between market structure and innovation, we find that: (1) At …
Persistent link: https://www.econbiz.de/10013143775
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Empirical Models of Consumer Behavior
Nevo, Aviv - 2010
Models of consumer behavior play a key role in modern empirical Industrial Organization. In this paper, I survey some of the models used in this literature. In particular, I discuss two commonly used demand systems: multi-stage budgeting approaches and discrete choice models. I motivate their...
Persistent link: https://www.econbiz.de/10013136543
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Broker Incentives and Mutual Fund Market Segmentation
Del Guercio, Diane - 2010
We study the impact of investor heterogeneity on mutual fund market segmentation. To motivate our empirical analysis, we make two assumptions. First, some investors inherently value broker services. Second, because brokers are only compensated when they sell mutual funds, they have little...
Persistent link: https://www.econbiz.de/10013138769
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Technological Linkages, Market Structure, and Optimum Production Policies
Lovely, Mary E. - 2010
There has been an increased interest in the efficacy of industrial policy. We show that policy design for vertically-related industries hinges on the nature of market interactions as well as technological linkages. Using a model in which final-good producers realize productivity gains from...
Persistent link: https://www.econbiz.de/10013139876
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Environmental Policy When Market Structure and Plant Locations are Endo-Genous
Markusen, James R. - 2010
A two-region, two-firm model is developed in which firms choose the number and the regional locations of their plants. Both firms pollute and, in this context, market structure is endogenous to environmental policy. There are increasing returns at the plant level, imperfect competition between...
Persistent link: https://www.econbiz.de/10013141089
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Productivity, Output, and Failure : A Comparison of Taiwanese and Korean Manufacturers
Aw, Bee Yan - 2012
Industry cost and demand conditions can vary across countries leading to differences in industry market structure, including the distribution of output and productivity across firms and the magnitude of entry and exit flows. It has been argued that despite many outward similarities, two of the...
Persistent link: https://www.econbiz.de/10013114763
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Mortgage Market Design
Campbell, John Y. - 2012
This paper explores the causes and consequences of cross-country variation in mortgage market structure. It draws on insights from several fields: urban economics, asset pricing, behavioral finance, financial intermediation, and macroeconomics. It discusses lessons from the credit boom, the...
Persistent link: https://www.econbiz.de/10013101510