Science-industry collaboration is one of the major channels for transferring new scientific ideas into economic applications. Whereas the factors leading to collaboration are reasonably well understood, the determinants of the outcomes generated by such collaboration are unknown. This paper...

The pure model of replicator dynamics though providing important insights in the evolution of markets has not found much of empirical support. This paper extends the model to the case of firms vertically integrated in value chains. We show that i) by taking value chains into account, the...