This paper analyzes the impact of globalization on the allocation of public and private resources for research, knowledge creation and diffusion. We argue that while the concentration of research investments remains in a relatively small number of rich countries and regions, the focus of such...

We introduce a model of product development in a firm. Our model describes the process as a multi-stage contest (i.e., race) with an endogenous length (with one stage or two stages) between two workers. We model the payments to workers from the new product using the normatively appealing Nash...

Environmental innovation is an essential part of a knowledge based economy, as environmental innovation makes economies more efficient by encouraging and facilitating the use of fewer material or energy inputs per unit of output. In this respect, environmental innovation replaces material inputs...

Menstruation can limit female labor force participation, especially in low-income countries, where menstrual hygiene practices are constrained by lack of finances and information. In a randomized controlled trial with around 1,900 female workers from four Bangladeshi garment factories, we relax...

This short paper on a very big subject deals with a worry - a worry that the present economic crisis is likely to contribute to the already-existing temptations of governmental and private actors alike to behave in a time-inconsistent fashion when responding to the challenge of climate change....

The paper considers a climate change growth model with three R&D sectors dedicated to energy, backstop and CCS (Carbon Capture and Storage) efficiency. First, we characterize the set of decentralized equilibria: A particular equilibrium is associated to each vector of public tools which includes...

Diversified firms often trade at a discount with respect to their focused counterparts. The literature has tried to explain the apparent misallocation of resources with lobbying activities or power struggles. We show that diversification can destroy value even when resources are efficiently...

How should executives lead organisations and their employees in an increasingly digitalized business environment and what skills are needed to succeed? Although the evolution of digital technologies considerably changes working environments in organisations and creates new challenges for...

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

This paper explores an equilibrium model for industry entry dynamics and technological change. We focus on the share valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when technology improves. We find that there can be a U-shaped...