Books reviewed: Richard A. McGowan, Government and the Transformation of the Gaming Industry Phyllis Deanwe, The Life and Times of J. Neville Keynes: A Beacon in the Tempest Craig Freedman, Economic Reform in Japan: Can the Japanese Change? William Thomson, A Guide for the Young Economist:...

This paper presents a synthetic framework identifying the central drivers of start-up commercialization strategy and the implications of these drivers for industrial dynamics. We link strategy to the commercialization environment - the microeconomic and strategic conditions facing a firm that is...

The recent formal literature on industrialization considers the technological choice space as a simple binary choice between a constant returns and increasing returns technology. The latter involves a large fixed cost yielding labor productivity gains. In line with arguments based on the...

This paper investigates policy responses to investment issues that arise when owners of essential facilities are subject to open access from downstream competitors. Our focus is not on the form of access pricing per se but on issues associated with regulatory commitment when there is ex ante...

We analyse vertical integration when there is upstream competition and compare outcomes to the case where upstream assets are owned by a single agent (i.e., upstream monopoly). In so doing, we make two contributions to the modelling of strategic vertical integration. First, we base industry...

This paper considers the impact of the intellectual property (IP) system on the timing of cooperation/licensing by start-up technology entrepreneurs. If the market for technology licenses is efficient, the timing of licensing is independent of the patent grant date, and productive efficiency...

This paper provides an analysis of a non-cooperative pairwise bargaining game between agents in a network. We establish that there exists an equilibrium that generates a coalitional bargaining division of the reduced surplus that arises as a result of externalities between agents. That is, we...

We analyze the relationship between incumbency and innovative activity in the context of a model of technological competition in which successful entrants are able to license their innovation to (or be acquired by) an incumbent. That such a sale ought to take place is natural since the...

This paper demonstrates the possibility of constructing a measure of product diversity using observed price and quantity data. We do this by positing a utility function, where utility depends on bilateral distance between products. We show how these unobserved parameters can be inferred from...

This paper evaluates whether the relative concentration of funding for small, research-oriented firms in a small number of high-tech industries is related to the differences across industries in the level of appropriability or capital constraints facing small firms. To do so, we exploit a novel...