We analyse the effects of investment decisions and firms' internal organisation on the efficiency and stability of horizontal mergers. In our framework economies of scale are endogenous and there might be internal conflict within merged firms. We show that often stable mergers do not lead to...

We study university projects and research collaboration projects with industry that are supported by government grants. First, we propose a theoretical model to analyze optimal decisions in these ventures. Second, we test our theoretical results with a unique dataset containing academic...

Agent-based computational economics is becoming widely used in practice. This paper explores the consistency of some of its standard techniques. We focus in particular on prevailing wholesale electricity trading simulation methods. We include different supply and demand representations and...

This paper characterizes when joint financing of two projects through debt increases expected default costs, contrary to conventional wisdom. Separate financing dominates joint financing when risk-contamination losses (associated to the contagious default of a well-performing project that is...

We develop a two-sided matching model to analyze collaboration between heterogeneous academics and firms. We predict a positive assortative matching in terms of both scientific ability and affinity for type of research, but negative assortative in terms of ability on one side and affinity in...

This paper investigates the effects of monetary rewards on the pattern of research. We build a simple repeated model of a researcher capable to obtain innovative ideas. We analyse how the legal environment affects the allocation of researcher's time between research and development. Although...

This paper studies the impact of university‐industry collaboration on academic research output. We report findings from a unique longitudinal dataset on all the researchers in all the engineering departments of 40 major universities in the UK for the last 20 years. We introduce a new measure...