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In this paper, we review the economic effects of intellectual property rights and specifically address the economics of the patent system. The production and dissemination of new knowledge is fraught with market failures because knowledge is a public good. Patents provide a second-best solution...
Persistent link: https://www.econbiz.de/10005433519
We exploit a major structural change that has occurred in world soccer to study the impact of incentives on outcomes in a strategic setting. A game-theoretic model is developed that captures some essential strategic elements of soccer vis-à-vis the number of points awarded to a win. The...
Persistent link: https://www.econbiz.de/10005433538
abstract currently unavailable
Persistent link: https://www.econbiz.de/10005433628
We develop a dynamic duopoly model of R&D competition to improve the quality of a final good. The innovation process is sequential and cumulative, and takes place alongside production in an infinite-horizon setting. In this context we study the R&D incentive impacts resulting from a...
Persistent link: https://www.econbiz.de/10005433630
currently not available
Persistent link: https://www.econbiz.de/10005436656
This article deals with the specification of a locally flexible and theory-consistent system of mixed demand functions, a framework that allows for a rich set of possibilities about what is assumed as exogenous in a demand model. A coherent mixed demand system is derived by using the restricted...
Persistent link: https://www.econbiz.de/10005436671
We analyze the potential entry of a new product into a vertically differentiated market. Here the entry-deterrence strategies of the incumbent firm rely on モlimit qualities.ヤ The model assumes quality-dependent marginal production costs and considers sequential quality choices by an...
Persistent link: https://www.econbiz.de/10005436678
The role of price risk in sow farrowings is investigated by using bivariate ARCH-M and GARCH-M models and a nonparametric kernel estimator. To account for the relevant time horizon of irreversible supply decisions, predictions for mean price and conditional price variance are iterated forward....
Persistent link: https://www.econbiz.de/10005436714
abstract currently unavailable
Persistent link: https://www.econbiz.de/10005436737
Biotechnology has had an important impact on the agricultural and food industries over the last twelve years by way of fast and extensive adoption of a few genetically modified (GM) crops. This has produced large efficiency gains, including higher yields and reduced costs of weed and pest...
Persistent link: https://www.econbiz.de/10005436770