Self regulation is a mechanism of quality vigilance that is frequently used in credence good industries. The providers in these markets generally form a Self Regulated Organization (SRO), composed by some members of the industry, whose main job is to convince consumers through an active...

Two main results have been obtained on the literature on contractual solutions to the hold-up problem. First, a contract specifying a price and quantity of the final good to be traded will, fairly generally, induce efficient investments if these are `selfish' in nature, i.e., each party's...

Within the independent private-values paradigm, we derive the data-generating process of the winning bid for the last unit sold at multi-unit, sequential, oral, ascending-price auctions when bidder valuations are draws from different distributions; i.e., in the presence of asymmetries. When the...

This paper employs a new global panel data set on innovation related variables to examine patterns of R&D investment across the development process. We find that R&D effort measured as a share of GDP rises with development at an increasing rate, but that several countries have experienced...

The Argentine economy has gone through important reforms during the nineties. Many of these reforms aimed at integrating the domestic economy with world trade and investment flows. There is a vast theoretical literature that links trade and investment liberalization with technological progress...

El principal objetivo de este trabajo ha sido analizar los principales determinantes de las actividades innovativas en la industria manufacturera chilena durante la segunda mitad de los años noventa. Los resultados confirman las principales hipótesis acerca de la importancia del tamaño de la...