We investigate how online price dispersion has evolved since the bursting of the Internet bubble by comparing price dispersion levels in years 2000, 2001, and 2003 and between multi-channel and pure play e-tailers. The results show that although online price dispersion declined between 2000 and...

We investigate how online price dispersion has evolved since the bursting of the Internet bubble by comparing price dispersion levels in years 2000, 2001, and 2003 and between multi-channel and pure play e-tailers. The results show that, although online price dispersion declined between 2000 and...

In his seminal “prospect theory” of patents, Edmund Kitch contends that patents should be relatively broad in order to promote post-grant follow-on innovation and development. The argument rests critically on the assumption that post-grant competition will diminish such efforts. This is just...

Empirical research on the role of economic institutions for subjective well-being is still widely lacking, while recent economic-experimental outcomes suggest that experienced utility may depend on the intensity of market competition. This paper is the first to empirically analyze the...

Regarding the connection between economic development and public health, the statistically evident correlation between a country's gross domestic product and life expectancy is widely discussed. An important aspect that keeps resurfacing in discussions on why the relationship between the latter...

This paper surveys the current state of global empirical research on price setting behaviour at the firm level to evaluate the adequacy of pricing models used in the macro literature. To that end, it analyses the implications of 25 theoretical models (sticky information, menu costs, time...

The New Keynesian Phillips curve (NKPC) is now the dominant model of inflation dynamics. In recent years, a large body of empirical research has documented price-setting behaviour at the individual level, allowing the assessment of the micro-foundations of pricing models. This paper analyses the...

We perform non-linearity tests using daily data for leading currencies that include the Australian dollar, British pound, Brazilian real, Canadian dollar, euro, Japanese yen, Mexican peso, and the Swiss franc to resolve the issue of whether these currencies are driven by fundamentals or...

The extraordinary oil price volatility of the 2007-08 period has resulted in special attention being focused on the role of financial market factors in determining physical oil prices. We survey the literature to assess the state of research on this topic. The literature provides substantial...

Motivation: The Czech government considers innovation policy a key component of the effort to improve the business environment. Globalization and support of competition keeps prices low and output high. In the Czech Republic the relevance of good general business conditions in encouraging...