I propose a theoretical framework to study jointly the process of innovation and asset pricing properties of investment … in innovation. The model emphasizes the disruptive nature of new technologies. When risk-sharing is limited, this feature … gives rise to hedging motives against potential disruption. Investors' hedging activity increases the pace of innovation and …

. The second chapter provides a theory of offshoring under imitation risk that explains optimal dynamic adjustments of firms … intellectual property rights and of offshoring costs on the rate of innovation and on the offshoring intensity. In chapter 4 I … Faktorausstattung zweier Länder basiert. Das zweite Kapitel liefert eine Theorie zu Offshoring unter Imitationsrisiko. Diese Theorie …

. The second chapter provides a theory of offshoring under imitation risk that explains optimal dynamic adjustments of firms … intellectual property rights and of offshoring costs on the rate of innovation and on the offshoring intensity. In chapter 4 I …