We use a simple model of collaborative innovation to structure an empirical analysis of minority equity links in biotechnology alliances between clients and Ramp;D firms. In the model, an equity link is an investment in information acquisition: it improves the ability of the client to learn...

This paper estimates quality and cost innovations in the early automobile, personal computer, rigid disk drive, computer monitor, and computer printer industries using industry-level data on firm numbers, price, quantity, and quality and an equilibrium model of industry evolution. The results...

Thomas E Borcherding passed away on February 12, 2014, of congestive heart failure. He was 74. He is survived by his wife, Rhoda, and his sons Matthew and Benjamin. He made important, lasting contributions to the discipline of economics, particularly to the fields of public choice and law and...

This paper estimates quality-adjusted price indexes for personal computers for the years 1976-88 using the method proposed by Berndt, Griliches, and Rappaport (1995). Indexes for the 1976-82 period may be combined with indexes provided by previous authors to obtain quality-adjusted price indexes...