We analyze the role of imitation and innovation in promoting technological progress in new members of European Union: the Czech Republic, Hungary, Poland and Slovakia. The two modes of technological development—innovation and imitation—are distinguished from one another by identifying the...

Recent empirical studies suggest a need for a flexible patent regime responding to industry characteristics. In practice, sector-specific modifications of patent strength already exist but lack theoretical foundation. This paper intends to make up for this neglect by scrutinizing in what...

This chapter explores the Kaldorian approach to endogenous growth theory. The central principles of this approach are explored, including the claims that growth is: (a) demandled, with trade playing a central role in aggregate demand formation; and (b) pathdependent. It is shown that both the...

A parsimonious model is used to explore the risk-bearing decision under a payoff structure that emphasizes relative performance. Equilibrium betting amounts are derived for players who start with unequal endowments and face a lottery that offers either a positive or negative expected return. If...

We study two-stage political contests with private entry costs. We show that these political contests could be ineffective, namely, the chance of low ability candidates participating in the contest might be higher than the chance of high ability candidates participating in the contest (and...

This study examines the relationship between social capital that arises from individual relations and individual innovativeness. Social capital is considered a multidimensional construct and individual innovativeness is measured through six different indicators of scientific production....

This article considers the voluntary disclosure of technical knowledge (research opportunities, scientific breakthroughs, positive tests results, etc.) that are commonly observed in many industries. A two step technological race model is used to define those conditions under which disclosure...

Is technological race a relevant framework to describe the pharmaceutical industry or are technological spillovers so strong as to attenuate the rivalry between firms? An event study on the announcements of technological and regulatory successes shows that on average, the stockmarket returns...