This paper analyses market valuations of UK companies using a new data set of their R&Dand IP activities (1989-1999). In contrast to previous studies, the analysis is conducted at thesectoral level, where the sectors are based on the technological classification in Pavitt (1984).The first main...

This paper agrees that a suitably generalized Darwinism may help understandsocioeconomic change, but finds the most publicized generalization by Hodgson and Knudsenunsuitable. To do better, it generalizes the extension of Neo-Darwinism into evolutionarydevelopmental biology (“evo-devo”),...

Woman surage led to the greatest enfranchisement in the history of the United States.Before World War I, however, surage states remained almost exclusively conned to theAmerican West. The reasons for this pioneering role of the West are still unclear. Studyingthe timing of woman surage adoption...

The aim of this paper is to test whether patent-based indicators are still reliable measures of innovativeness in light of organizational changes in the field of Intellectual Property Rights (IPR) protection and the regulatory reforms already under way respectively at the U.S. Patent and...

Significant amount of vertical technology transfer occurs betweendeveloped and developing country firms, yet the literature on intellectual propertyrights did not pay much attention to this aspect...

We show that, for licensing by an outside innovator in a Cournot oligopoly,royalty licensing can generate higher payoff to the innovator than the fixed-feelicensing and auction if the labor market is unionized...

We show the incentive for divisionalization by a monopolist producer. Incontrast to the previous literature, where divisionalization occurs for product marketadvantage, we show that divisionalization occurs if it provides strategic advantage inthe labor market. With unionized labor market, we...

An important discussion in recent years is the introduction of product patentsand the abolition of process patents. In a model with endogenous number of innovatingfirms, we show that whether product patent increases R&D is ambiguous, and depends onthe type of market demand and the cost of R&D....

We show the effect of patent protection on R&D investment in presence of‘inventing around’ (or imitation) and technology licensing...

This paper considers welfare effects of entry when the incumbent firmbehaves like a Stackelberg leader in the product market. In contrast to previous work(Klemperer, 1988, Journal of Industrial Economics), we show that entry may alwaysincrease welfare. Using general demand function, we show the...