Contrary to popular belief, it is intellectual capital and university collaboration, not just lower costs, that primarily attract companies to locate R&D activities in locations away from their home country, according to a study sponsored by the Ewing Marion Kauffman Foundation. The study of...

We develop a model of commercial smuggling in which some firms smuggle a portion of the cigarettes they sell. The model is used to estimate the extent of smuggling across state lines and the effects of federal efforts to control smuggling via the Contraband Cigarette Act (CCA). We find that...

University research is increasingly importantfor industrial innovation. Licensing provides an incentive for both faculty andcompanies to undertake the development of federally-funded ideas and theirtransfer to industry. However, skeptics question the effects of licensing onthe conduct of...

We examine the interplay of the three major university actors in technology transfer from universities to industry: the faculty, the technology transfer office (TTO), and the central administration. We model the faculty as an agent of the administration, and the TTO as an agent of both the...