This paper examines why different countries export different qualities of products. While previous studies have attributed quality differences to differences in physical capital endowments, there is a dearth of empirical work focusing on the effect of technology on the quality of exports. Using...

Why do so many high-priced acquisitions of entrepreneurial firms take place in network industries? We develop a theory of commercialization (entry or sale) in network industries showing that high equilibrium acquisition prices are driven by the incumbents' desire to prevent rivals from acquiring...

Die Rolle von Normen innerhalb des Innovationssystems ist sehr umstritten. Es wird sogar vermutet, dass die Zeit der Normung bereits abgelaufen sei. Andererseits wird von einer erstarrenden Regelsetzung gesprochen, die die notwendige Flexibilität für Erfindungen und Innovationen verhindere....

In industries with network effects, incumbents' installed bases create barriers to entry that discourage entrepreneurs from developing new innovations. Yet, entry is not the only commercialization route for entrepreneurs. We show that the option of selling to an incumbent increases the...

In industries with network effects, incumbents’ installed bases create barriers to entry that discourage entrepreneurs from developing new innovations. Yet, entry is not the only commercialization route for entrepreneurs. We show that the option of selling to an incumbent increases innovation...

Die Rolle von Normen innerhalb des Innovationssystems ist sehr umstritten. Es wird sogar vermutet, dass die Zeit der Normung bereits abgelaufen sei. Andererseits wird von einer erstarrenden Regelsetzung gesprochen, die die notwendige Flexibilität für Erfindungen und Innovationen verhindere....

Why do so many high-priced acquisitions of entrepreneurial firms take place in network industries? We develop a theory of commercialization (entry or sale) in network industries showing that high equilibrium acquisition prices are driven by the incumbents' desire to prevent rivals from acquiring...

This paper proposes a two-stage game theoretic model in which the discretionary power of executives acts as an implicit defense against hostile takeovers. Following managerial enterprise models, this paper analyzes the effects of target’s executives’ discretionary power over R&D and...

Often a quality improvement necessitates modifications of varietal product features. This paper studies firms' incentives to invest in quality improving R&D when this decision affects the goods' degree of varietal differention.

This paper examines why different countries export different qualities of products.Previous studies have attributed quality dispersion to differences in factor endowments while no empirical work has been done examining the effect of technology on quality. Using panel data on U.S. imports from 58...