We investigate the localization of technical knowledge in a setup where firms or researchers compete for the value of a preemptive innovation. All researchers could gain by sharing information due to the uncertainty of the arrival time of the discovery. As receiving information while withholding...

Environmental norms seem to be on the upsurge everywhere. Norm-orientation is, however, neglected in neoclassical economics which is fixed on homo economicus as the model of human behaviour. The paper addresses the question whether homo economicus needs to give way to a norm-oriented concept in...

The Marshall/Lerner condition is examined in a context in which full account is taken of the intertemporal optimizing conditions inherent in the balance of payments. This analysis suggests that the condition has only a very limited significance.

In den Erklärungsansätzen der strategischen Handelspolitik kann der Einsatz handelspolitischer Instrumente, bei unvollkommener Konkurrenz auf internationalen Märkten, zu gesamtwirtschaftlichen Gewinnen für ein Land führen (vgl. Brander, Spencer, 1983, 1985). Dagegen wird eine Vielzahl von...

The paper derives a valuation formula for the real option of a firm to undertake an irreversible investment in a foreign economy based on the endogenous dynamics of a stochastic macroeconomic framework with sluggish price adjustment. The option valuation formula is implemented to analyze the...

This paper discusses the role of transfers in a non-cooperative environment. If reselling in-kind-transfers involves some retrading costs, in-kind transfers are supposed to realise at least some of the mutual bargaining gains which would be left unexploited by mere use of monetary payments....