This paper evaluates the performance of alternative estimation methods for multiplicative and log models with heteroskedasticity. Contrary to Santos Silva and Tenreyro (2006), the results of a simulation study indicate that the Pseudo Poisson Maximum Likelihood estimator (PPML) is not always the...

Incentivizing innovation through buyouts may alleviate the social costs associated with patent power, but the political economy and feasibility of this potentially important financing mechanism have been understudied. We study an international setting of countries with different innovation and...

The literature on patent buyouts has focused on single-economy settings, where buyouts are welfare improving relative to patents unless there are frictions such as imperfect information or commitment problems. We expand the analysis to a world with two heterogeneous countries featuring different...

Almost all international environmental agreements include a minimum participation rule. Under such a rule an agreement becomes legally binding if and only if a certain threshold in terms of membership or contribution is reached. We analyze a cartel game with open membership and heterogeneous...

This paper discusses the political economy of the climate change debate. The objective is to come to a better understanding of why at international levels (e. g. the G-8 summit in Heiligendamm) climate change was one of the main topics at the agenda, despite the fact that climate change cannot...