In the context of multivariate linear regression (MLR) models, it is well known that commonly employed asymptotic test criteria are seriously biased towards overrejection. In this paper, we propose a general method for constructing exact tests of possibly nonlinear hypotheses on the coefficients...

We propose two axiomatic theories of cost sharing with the common premise that agents demand comparable –though perhaps different– commodities and are responsible for their own demand. Under partial responsibility the agents are not responsible for the asymmetries of the cost function: two...

This paper studies vertical R&D spillovers between upstream and downstream firms. The model incorporates two vertically related industries, with horizontal spillovers within each industry and vertical spillovers between the two industries.

Overs the past millennium, each of the three centuries of most rapid demographic growth in the West Coincided with the diffusion of a new communications technology. This paper examines the hypothesis of Harold Innis (1894-1952) that there is two-way feeback between such innovations and economic...