Different aspects of external information flows have typically been lumped together under the name "spillovers". We attempt to refine our understanding of external information flows through the construction of firm-specific measures of incoming spillovers and appropriability from survey data on...

While the impact of M&A on R&D and innovation examined at the aggregate level left inconclusive evidence, we find that at the level of the R&D process both the technological and the market relatedness between the target and the acquirer are helpful dimensions to identify effects. Using...

This paper presents a model that determines the optimal budget allocation strategy for the development of new technologies for safety-critical systems over multiple decision periods. The case of the development of a hypersonic passenger airplane is used as an illustration. The model takes into...

Regulators face the difficult task of determining the sets of price and quality of government-regulated goods. While the profit-maximizing monopoly always produces less in quantity than under free competition, the level of quality produced by the monopoly is not unequivocal: it depends on its...

I present a vertical differentiation model to assess the quality-wise strategy of an incumbent telecommunications operator under open access regimes. I show that it is always profitable for an incumbent subject to wholesale regulation to degrade wholesale quality in a non-recoverable fashion....

In this paper we empirically examine the determinants of changes in the organization of production using detailed information on a data set from a new plant-level survey of 1003 plants covering the full range of manufacturing industries in Spain. In particular, and among many other things,...

A decision-maker has to elicit information from informed multiple experts about a policy's value. The principal may prevent communication among the agents. However, it may be in the principal's interest to allow communication among them. I assume that communication allows synergies to emerge...

We present an explanation of the high frequency of team production and high level of peer monitoring found in Japanese firms, in terms of a simple and empirically grounded variation in individual utility functions. We argue that Japanese agents are generally characterized by a higher degree,...

This volume investigates the relationship between economic globalization and institutions, or global governance, challenging the common assumption that globalization and institutionalization are essentially processes which exclude each other. Instead, the contributors to this book show that...

This book argues that the capacity of a country to develop, and the levels of economic and social development achieved, depend more on the institutional parameters within which the development policies are implemented than on the policies themselves. It contends that forces of globalisation...