, private information, and identity-dependent externalities. We derive the seller's optimal mechanism and characterize its main … commonly used in practice is an optimal mechanism if externalities are sufficiently large …

efficient technology even in the absence of taxation. When taxation is necessary for innovation, both types of taxes are … effective. However, the energy tax outperforms the emission tax in terms of innovation incentives. …

As cities increasingly become centers of economic growth and innovation, there is a need to understand their inner … that these two types of externalities co-exist, but differ in their spatial distribution and attenuation within cities …-city industry cluster in a diversified, large city appears to let firms enjoy the benefits of local industry-specific externalities …

effect of recombinant innovation of the two technologies. A mechanism of endogenous competition is described involving a … positive externality of increasing returns to investment which are counterbalanced by recombinant innovation. We determine … innovation. …