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Firms in information and communication (ICT) sector are often considered as an important element of business innovation performance in the economy. This paper is focused on examining their share on innovation and total research and development (R&D) expenditure in selected European countries....
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Free mobility has not been thought of as an effective tool to correct over- or underproduction of externalities. In this paper, we establish that foot voting can internalize the cost of negative externalities. Workers have to accept the wage and rent, however high or low they are in equilibrium,...
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bad. In a market setting with multiple consumers per expert, a cross-consumer externality arises: one consumer's payment … provide higher quality services to all consumers. The externality renders the market outcome inefficient. Price regulation …
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Studies find that in time of crisis such as natural disasters, in most cases, people in crowds are capable to remain calm and to help each other. Referred as 'collective resilience', this capability can increase a society's capacity to withstand crises and disasters. Therefore, for both academia...
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setup we can disentangle causal herding behavior from simple co-movement between credit rating agencies due to changes in … significant herding behavior among credit rating agencies. This average herding behavior amounts to 0.4 notches for a one notch …
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