State subsidies to R & D or innovative investments in firms are organized in many different ways. Examples from the plethora of extant subsidy instruments are tax incentives, grants to researchers, project grants, loans, conditional loans, and grants with royalty rights. Very little is currently...

Stylized facts indicate that small firms are responsible for a disproportionate share of innovative research. There are many possible explanations for this facto The paper seeks to understand this phenomena as the outcome of an optimal assignment of tasks across individuals and organizations. It...

This paper describes how large, typically multi-technology corporations build up and exploit their technological capability by purchasing small, technology-based firms in order to acquire their technology. The frequency, possible causes and economic effects of this phenomenon are elaborated,...

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When firms possess unique R & D assets such as ideas or particular researchers, and there are aggregate increasing returns to scale in R & D, then there can be several Nash equilibria involving different levels of investment in R & D. However when costless communication is possible firms may be...

This paper deals with the physical location of firms although other interpretations are also possible. It is a well-known fact that firms in certain industries tend to cluster. However, since you would expect competition to be more intense when goods are less diversified in a locational sense...

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