During the last days of the year 2003 twenty-five European countries failed to come to terms with all demands enclosed within the project of a Constitution for Europe. Everyone went home. Now nothing is agreed upon before all is agreed upon, and hopes are high that the Irish Presidency will...

We study signal-dependent experimentation in the presence of accumulation and show that the passive-learner’s action surprisingly coincides with the experimentor’s when the unknown term is the one determining the decay rate of the stock, while they differ when the parameter being learned is...

The European Union will be introducing a Europe-wide patent, the so-called Community Patent. Its aim is to foster innovative activity, but strategic effects between firms competing in R&D have not been considered in the official discourse. We show that, even if these are taken into account, the...

This paper presents an endogeneous model for the stochastic dynamics of the bid-ask spread of prices of nancial assets. The model is derived introducing an intermediary and inventory costs in the setting of equilibrium financial markets as described by Platen and Rebolledo (1996)

Annual company reports and financial statements rarely distinguish between the domestic and export markets operations, and even more rarely provide annual financial indicators on specific export ventures performance. This situation is a major obstacle to the development of export marketing...

We show that a distribution of a game with a continuum of players is an equilibrium distribution if and only if there exists a sequence of symmetric approximate equilibrium distributions of games with fi- nite support that converges to it. Thus, although not all games have symmetric equilibrium...

This exploratory study discusses main antecedents of export performance based on the perceptions of European export managers. Cross-national findings reveal that according to managerial perceptions the most important determinants of export performance are product quality, followed in importance...

At a time when exporting activity is becoming a major resource for creating firms value and national economic wealth, it is surprising that annual company reports rarely distinguish between domestic market performance and the performance of export markets operations. Even more rarely do annual...

This paper extends the standard industrial organization models of repeated interaction between firms by incorporating preferences for reciprocity. A reciprocal firm responds to unkind behavior of rivals with unkind actions (destructive reciprocity), while at the same time, it responds to kind...