The patent system makes organized markets in patents with transparent prices possible. Such prices are here investigated as “signals” for inventors and innovators alike ofv aluable “technology areas”, in an experimental study. They inform decisions of specialized “firms” on...

This article describes the academic contributions of the 2010 recipient of the Global Award for Entrepreneurship Research, Professor Josh Lerner of the Harvard Business School. Lerner’s empirical research on the inter-relationship between venture capital, innovation and entrepreneurship has...

The organization of post-war science has taken distinctly different paths in different countries, based on historical rationales, national funding patterns and institutional structure. The German Max Planck-Society is a research-only network of basic research institutes whose organization and...

This paper investigates how universities may affect regional entrepreneurship through the localisation decisions of entrepreneurial alumni. Empirically a comprehensive, individual-level dataset from Sweden for the period 2003-2005 is employed. The results suggest that even when controlling for...

The question of how prices on patents rights should be determined in impersonal exchanges is examined in a laboratory environment. Dynamic gains from such organized trade with public prices are recorded. The experiment introduces a competitive market with impersonal exchange mechanisms and...

Previous studies have shown that differences in corporate governance systems and both formal and informal institutions, such as traditions and laws appear to correlate with firm performance. It has been suggested that Scandinavia and South East Asia have similar ownership structures with...

This paper investigates the relationship between inter-firm labor mobility and regional productivity growth. Previous studies have shown that density is positively correlated with growth. I claim that it is not density in itself, but rather the attributes associated with it that drives economic...

It is a well known fact that wages have a tendency to be higher in larger regions. The source of the regional difference in wages between larger and smaller areas can be broadly divided into two parts. The first part can be attributed to the fact that regions have different industrial...

The government of India initiated pro-market reforms in the 1990s, after almost five decades of socialist planning. These and subsequent policy reforms are credited as the drivers of India’s radical economic transformation. Prior to reforms, private investment was strictly regulated and...

Private equity companies have become a major force in the economic landscape. Financial- and operational-engineering are innovative characteristics of this emerging method of finance. The existing empirical data provide strong evidence that private equity activity contribute positively to the...