It is often the case that the introduction of new products and services requires the development of several distinct complementary technologies. These technologies may be independently developed by different firms. Each firm may possess a technology that has a much greater value when combined...

In conducting an investigation into the specification of partial static equilibrium factor demand models, this paper isolates: (1) the endogeneity of output and quasi-fixed factor levels; (2) the choice of omitted share equation; and (3 ) the presence of serial correlation (when using time...

The current interest in real options reflects the dramatic increase in the uncertainty of the business environment. Viewed narrowly, the real options approach is the extension of financial option pricing models to the valuation of options on real (that is, nonfinancial) assets. More broadly, the...