I examine Ronald Coase's criticism of standard regulatory and tax policies to address environmental externalities. I …

negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in …

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …

-disorder and income-creation externalities. Two bordering casinos compete with each other for the external source of demand of …

This paper presents a simple but quite general framework for analyzing the impact of informational externalities. By … identifying the traditional pecuniary effect of these externalities which nets out,the paper greatly simplifies the problem of …

an induced innovation externality. This alternative mechanism, by contrast, causes people to devote an inefficiently high … level of self-protection. As an empirical example of this externality, we analyze the innovation induced by the obesity … epidemic. Obesity is associated with an increase in the incidence of many diseases. The induced innovation hypothesis is that …

technologies which reduce the cost of pollution abatement. The innovating firm can patent this innovation and use a licensing fee … to generate revenue. In a world of certainty, the first best level of innovation and abatement can be supported by either … a pollution tax or a marketable permit. However, the returns to the innovator from innovation are not the same under the …