Given the current risk environment, businesses are obligated to do their utmost to protect systems and ensure consumer confidentiality. Unfortunately, even the prudent and vigilant business entities may still be susceptible to data theft or other outside system intrusion. In this respect, sound...

We provide what to the best of our knowledge is the first theoretical analysis of the total effects of human capital use, innovative activity, and patent protection, on economic growth in a model with many regions. In each region, consumers have constant relative risk aversion preferences, there...

Developing and administering disciplines on the use of subsidies is one of the most difficult areas of international economic policy and rule making. It is also one of the most pervasive problems in international trade. Subsidization has taken on new prominence in the economic policy toolkit as...

The problem of delays in the construction sector is a global phenomenon and the construction sector in Zimbabwe is no exception. This research seeks to empirically investigate the factors affecting construction delays in Zimbabwe. A questionnaire survey was used for data collection. The research...

Pharmaceutical firms spend increasing amounts in mergers and acquisitions (M&As), which raises the question of whether sufficient investment is left after mergers to further develop firms' internal drug development capability. We evaluate the effects of M&As on firms' post-merger R&D investments...

The extent to which broadband Internet service providers can engage in reasonable traffic management when faced with potentially congestion-causing applications like BitTorrent or other file-sharing applications is currently the subject of heated debate. This Paper provides a formal economic...

The purpose of patent policy is to balance the incentive to invent against the ability of the economy to utilize and incorporate new inventions and innovations. Substandard patents that upset this balance impose deadweight losses and other costs on the economy. In this Policy Paper, we examine...

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the ease of entry argument in merger evaluations. Up to now, very little is known empirically about how mergers affect the resulting number of firms in the markets. We empirically test this aspect of mergers using a...

We consider a simple game-theoretic multistage model in which a government can provide subsidies to different incumbent firms competing in a vertically differentiated oligopoly model. We find that a subsidy provided to the high-quality firm only, returns the highest net total surplus and net...