Research and Development (R&D) and innovation are crucial features of the seed industry. To supportlarge R&D investments by the private sector, strong intellectual property rights, such as patents, arenecessary. The exclusivity granted by patents naturally creates market power positions and...

Considerable controversy exists regarding the costs and benefits of growth in the meatpacking and processing industry in the rural Midwest. This study uses proprietary datafrom the Bureau of Labor Statistics’ Longitudinal Database (LDB) to investigate theeffects of this industry on social and...

This study uses an agent-based test bed (“AMES”)to investigate separation and volatility of locational marginalprices (LMPs) in an ISO-managed restructured wholesale powermarket operating over an AC transmission grid. Particular attentionis focused on the dynamic and cross-sectional response...

In this study, we regard the oligopolistic-oligopsonistic markets within the framework of a“double auction” in which both buyers and sellers make bids. To this end, we introduce gameswhere declarations of supply and demand functions (which need not be true) are treated asstrategic variables...

Agent-based Computational Economics (ACE) is the computational study of economic processesmodeled as dynamic systems of interacting agents. This essay discusses the potentialuse of ACE modeling tools for the study of macroeconomic systems. Points are illustratedusing an ACE model of a two-sector...

Recent surveys report that firms claim they do not rely heavily on patents in order toappropriate a return on their innovation. Yet, firms do patent, as indicated by the largenumber of patents that are granted. This paper offers a possible resolution to this puzzle.It takes a simplified version...

Using a unique longitudinal data set on all manufacturing firms in Slovenia from 1994-2001, this study analyzes how firm efficiency changed in response to changing competitive pressures associated with the transition to market. Results show that the period was one of atypically rapid growth of...

A methodology for measuring public agricultural research capital is developed anddescribed for the first time, new public agricultural research capital measures for each of the 48contiguous US states, 1970-1999, are presented, and a new econometric analysis of the contributionof public...