The literature on R&D contests implicitly assumes that contestants submit their innovation regardless of its value. This ignores a potential adverse selection problem. The present paper analyzes the procurement of innovations when the procurer cannot commit to never bargain with innovators who...

A pervasive trend that characterised the past two decades of European economic growth is that the share in the economy of commercial services, and particularly business services, grows monotonically, and this mainly to the expense of the manufacturing sector. The structural shift reflects a...

This paper proposes a framework for demand estimation with data on bids, bidders' identities, and auction covariates from a sequence of eBay auctions. First the aspect of bidding in a marketplace environment is developed. Form the simple dynamic auction model with IPV and private bidding costs...

Abstract This author sheds some light on the theoretical arguments on the use of selectivity and uniformity of trade policy in trade and industrialization for targeting industries and firms and provides a brief historical review of practices of developed countries and East Asian countries with...

Julian Simon has stated, in many of his recent publications, that population growth, although reducing income per capita in the short run through capital dilution, increases the rate of growth of that same income per capita in the long run (steady state) through technical progress brought about...

The primary purpose of this paper is to explore the potential for EU-SILC data to deepen our understanding of the determinants of inequality in workers’ formal life-long learning (LLL) in Europe. In particular we investigate the incidence of personal, job-specific and firm-specific...

The present paper aims to adduce succinctly the reasons and arguments sustaining female-targeting microfinance programs, predominantly because of their capacity of offering an effective and operational tool against poverty. The herewith paper basically follows a double-axis organization. The...

The objective of this paper is to examine the impact of education reforms on earnings. One of the significant changes in the Malaysian education system was the schooling reform of 1970 that changed the medium of instruction from the English language to the Malaysian national language. Using data...

We develop a model of macroeconomic heterogeneity inspired by the Kiyotaki-Wright (1989) formulation of commodity money, with the addition of linear utility and idiosyncratic shocks to savings. We consider two environments. In the benchmark case, the consumer in a meeting is chosen randomly. In...

The paper discusses funding principles and policies of higher education during the recession period. The role of state appropriations for the viability of public higher education institutions is discussed. State funding affecting institutional behaviour is another issue raised. The paper...