The paper sketches out a theoretical framework for analysing the interplaybetween eco-efficiency, cognition and institutions. It derives from analyticalshortfalls of the prevailing literature, which features strongly engineering andbusiness economics, by using insights from New Institutional...

This paper examines an industry whose economic activity uses a natural capital on which its profit also relies. When such a productive natural capital has a limited capacity to recover from its exploitation, a free market tends to over-exploit it, calling for public intervention. The analysis is...

Green product innovations offer a large number of compelling benefits to different stakeholders throughout their life cycle (raw material extraction, production, use and maintenance, end of life). However, in inert sectors such as the construction industry, the development of green products is...

This paper analyzes the impact of pollution and abatement policy within a stochastic endogenous growth model. The agents have environmental preferences, but they neglect their individual contribution to aggregate abatement. Therefore, environmental care is done by the government and financed via...

Feenstra and Ma (2008) develop a monopolistic competition model where firms choose their optimal product scope by balancing the profits from a new variety against the costs of cannibalizing sales of existing varieties. While more productive firms always have a higher market share, there is no...

This paper presents a duopoly model of e-business technology adoption. A leader and a follower benefit from a new ebusiness technology with uncertain quality depending on its innovation and adoption cost and both firms' adoption timing. When innovation and adoption require large set-up costs,...

Empirical evidence suggests that many mergers do not increase profits of the participating firms and decrease welfare. Due to the globalization of markets we should take an international view on mergers and their welfare effects. This paper develops a Bertrand-model of an international...

The tremendous growth of markets for credit derivatives since the mid 1990's has raised questions regarding the role of these instruments in the banking in- dustry which is heavily exposed to credit risk. However, while recent literature mainly focused on pricing and optimal decisions regarding...

We explore the effects of environmental taxes that imprecisely target pollution. A review of actual policies indicates few (if any) examples of a true tax on pollution. More typically, environmental taxes target an input or output that is correlated with pollution. We construct a simple...

Increasing environmental awareness may affect the pleasure of consuming a good for which an environmental friendly substitute is available. When deciding to buy differentiated products, a compromise is sometimes made between preferred characteristics of the good and its environmental properties....