This paper investigates the effects of monetary rewards from commercialisation on the pattern of research. We build a simple repeated model of a researcher capable to obtain innovative ideas. We analyse how academic and market incentives affect the allocation of the researcher’s time between...

The study of organizational choice is crucial to the understanding of firms' efficiency. We consider this issue applied to contracts on health services. In particular, we analyze the circumstances under which it is better for an insurer to contract with both the hospital and the physician...

We investigate whether competition between two firms to hire managers with different abilities might affect the product markets efficiency, when a manager's effort once hired is or her private information. We conclude that competition for managers might lead to an efficiency improvement in the...