Stricter competition policy reduces expected payoffs before and after innovation, but reduces pre-innovation payoffs relatively more than post-innovation payoffs, and therefore increases the equilibrium level of R&D activity: tough product-market competition policy stimulates innovation. There...

Following the Gulf War, international discussions took place about multilateral restraints on “destabilising arms transfers”. Given that the UK is one of the leading exporters of arms, any reduction in such exports would affect the UK economy. The UK government spends considerable sums...

Explains that the public sector is a major buyer of goods and services. In the mid‐1980s discriminatory (buy national) public purchasing was identified as one of the barriers to the completion of the Single European Market. Studies suggested that a more liberal public purchasing regime would...

I model optimal product-market competition policy when industriesdiffer inthe potential for quality-improving technological advance. In a two-periodmodel, a competition authority with limited resources administers adeterrence-based competition policy toward two industries. In one...

Although the Cold War is over, the dangers of international armed conflict remain. Multinational talks about restricting the arms trade stalled in 1992. If they resume, what should the British attitude be towards participation in a multilateral agreement to limit arms exports when such exports...