This paper draws on unique insights about the nature of bribe payments to determine the factors driving composition of bribes (whether cash or non-cash) and their timing (whether prepayment or payment at the time of ‘service’). Key questions addressed are: (i) What is the effect of...

This paper examines input price regulation's effects on research and development (R&D) and output in a vertically integrated industry. A single integrated firm produces the crucial input and the output. The non-integrated rival does not produce the input but buys it from the integrated firm at a...

This paper examines the relationship between inputs in industrial production. The inputs studied here are capital, labor, and research and development (R&D). Using translog technology, our cross-industry analysis of six industries reveals that capital and labor are complements in production...

Using a standard model of uncertain innovation, this paper examines research rivalry and rent-seeking rivalry in innovation markets. Previous literature has not considered the implications of rent-seeking in research markets. We find that greater rent-seeking by the rival unambiguously lowers...

Several recent studies, including those by Pindyck (1991), Pindyck and Solimano (1993), Dixit and Pindyck (1994), Episcopos (1995), and Abel et al. (1996), suggest an important linkage between the effect of uncertainty on investment and the irreversibility of the latter. This paper broadly...

Using state level U.S. data from 1994-2009, this research examines the impact of the Internet on cigarette demand and discusses resulting implications for tax policy. Results show that the Internet increases the demand price elasticity of cigarettes, which limits the ability of governments to...