The theoretically necessary and sufficient condition for the correspondence between 'revealed' comparative advantage and pre-trade relative prices derived by Hillman (1980) is analysed empirically for virtually all countries of the world over an extended period of time. This yields 10 stylized...

The authors describe a classroom experiment that illustrates the research and development investment incentives facing firms when technological spillovers are present. The game involves two stages in which student "sellers" first make investment decisions and then production decisions. The...

The innovation performance of firms is primarily determined by their own innovative activities and the interaction with their innovation-related environment. This environment typically differs among countries. We assess empirically these differences on firms' innovation performance. To that end...

If the price is regulated in a spatial duopoly where consumers have a finite upper bound as to the price they are willing to pay for the differentiated product, in most cases the Principle of Minimum Differentiation does not apply. Depending on the market structure firms either (i) form local...

Intuitively, extending the period of repose for price fixing agreements enhances the effectiveness of competition policy enforcement. This paper proves this intuition wrong. As extending the repose period reduces cartel members' defection payoff while it leaves unaltered expected compliance...