This paper examines the role of two types of reputation - borrower credit history and productivity - in disequilibrium supply and demand models of loan size dynamics in formal and informal credit markets. Using panel data on Honduran households, full- and partialinformation regime switching...

The Bayh-Dole Act of 1980, key court decisions, and several breakthrough process technologies, paved the way for a period of remarkable growth in the patenting of life science research by U.S. universities in the 1980s and 1990s. Using a multiple-output cost framework and panel data on 96...

This paper investigates the pricing of differentiated products in a vertical sector, with a focus on the role of industry concentration. We propose concentration indices that extend the classical Hirschman-Herfindahl Index (HHI) to include vertical structures that manage differentiated products....

We develop a reduced-form model of price transmission in a vertical sector, allowing for refined asymetric, contemporaneous and lagged, own and cross price effects. The model is used to analyze wholesale-retail price dynamics in the US butter market. The analysis provides strong evidence of...

We present a dynamic model of economic behavior of an owner-operated firm under bounded rationality, and develop the implications for the assessment of economic efficiency and the understanding of entrepreneurship. Under bounded rationality, information about technology and market conditions is...

This paper investigates the microeconomics of diversification, based on a two-period model of an owner-managed firm facing uncertainty. The analysis utilizes a general state-contingent representation of uncertainty and learning. Economies of diversification are defined based on a certainty...

We develop a semi-structural price vector autoregression to capture coffee price dynamics over various time horizons. The presence of the International Coffee Agreement is permitted to alter supply responses to price signals through yield and planting effects. In the short run, the ICA caused...

No abstract available