This work investigates the presence and sources of economies of scope in R&D at U.S. research universities. The analysis evaluates the tradeoffs and synergies arising between traditional university research outputs (articles and doctorates) and academic patents. We propose a new measure of...

The paper investigates bundle pricing under imperfect competition. In a multiproduct context, the substitution/complementarity relationships among products can affect pricing in complex ways. This is used to motivate multi-product generalizations of the Herfindahl-Hirschmann index, which capture...

This paper investigates the determinants of efficiency and technological progress at US research universities. It relies on a unique panel data set of multiple outputs and inputs from 92 universities covering the period 1981-1998. Over that time span, US universities experienced large increases...

Risk and risk aversion are introduced in a Ricardian model of the pricing and allocation of land. The rental price of land and agricultural production decisions are analysed in a market equilibrium context. It is shown how uncertainty influences the Ricardian rent, farm output, the average...

The implications of sunk costs for many key questions in agricultural economics have yet to be explored. This paper uses a dynamic model of investment behavior to explore how sunk costs can shape market outcomes in ways that might not match predictions of standard competitive models. Applying...