This paper focuses on the automobile industry and examines the nature of global value chains in it with reference to the case of India. The aim is to explore the relation between lead firms, particularly MNCs, and the extent to they have contributed to the development of the Indian automobile...

The present paper reconsiders the inside innovators’ licensing problem under incomplete information. Employing an optimal mechanism design approach, we show that, contrary to what is claimed in the literature, the optimal mechanism may prescribe fixed fees, royalty rates lower than the cost...

Industries with mixed oligopoly are exceedingly popular all over the world, especially in developing countries, such as China. This paper highlights the innovation strategies of mixed duopoly with a (semi-) public firm and another private firm, and the effects of mixed oligopoly on innovation...

A structural model of entry and fiscal policy is presented. It shows that taxation of variable production costs can increase product prices, lower competition, and reduce the availability of new products in small markets. The model's test is based on a unique nationwide fiscal experiment. We...

This paper builds a new model of financial exchange competition, tailored to the institutional details of the modern US stock market. In equilibrium, exchange trading fees are competitive but exchanges are able to earn economic profits from the sale of speed technology. We document stylized...