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Author : Gianni de Fraja
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (595 download)
Download or read book Product Market Competition, R and D, and Welfare written by Gianni de Fraja and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Guillermo Marshall
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (13 download)
Download or read book Innovation and Competition written by Guillermo Marshall and published by . This book was released on 2018 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study how competition impacts innovation (and welfare) when firms compete both in the product market and in innovation development. This relationship is complex and may lead to scenarios in which a lessening of competition increases R&D and consumer welfare in the long run, contradicting arguments provided by antitrust agencies in recent merger cases. We provide conditions for when competition increases or decreases industry innovation and welfare. These conditions are based on properties of the product market payoffs.
Author : Dennis C. Mueller
Publisher : Springer Science & Business Media
ISBN 13 : 1461555590
Total Pages : 397 pages
Book Rating : 4.4/5 (615 download)
Download or read book Competition, Efficiency, and Welfare written by Dennis C. Mueller and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition, Efficiency and Welfare contains a collection of papers in honor of Manfred Neumann. This collection was prepared as a tribute to a teacher and scholar, whose accomplishments have enriched various fields of economics. The magnitude of his interests is reflected in the breadth of topics covered in this volume: industrial economics, competition policy and related topics. However, if one unifying principle runs through Manfred Neumann's work, it is the belief in the power of competition. Born on May 16, 1933, Manfred Neumann studied economics at the University of Cologne. He graduated in 1960. In 1969 Manfred Neumann was appointed Professor of Economics at Nürnberg University. He was Dean of the Faculty of Economics and Social Sciences of the University of Erlangen-Nürnberg, President of the European Association for Research in Industrial Economics (EARIE) and Chairman of Industrial Organization Study Group of the Verein für Sozialpolitik. Most of his professional career has been spent at Nürnberg, where he has helped to make the Economic Institute one of the leading research centers in Industrial Organization. He has also been involved in various advisory activities. The volume contains 18 essays. The first twelve are grouped into four categories: Innovation and R&D (Part I), Cartels (Part II), Mergers and Merger Policy (Part III), and Methodological Issues in Industrial Organization (Part IV). These papers fall within the bounds of industrial economics, which has been Manfred Neumann's primary research interest throughout his career. Part V includes two papers on theories of international trade, which has been a recurring topic of interest for Manfred Neumann through the years. The last three papers look at broader policy and macroeconomic issues. Contributors to this volume include Karl Aiginger, David B. Audretsch, Paul A. Geroski, Stephen Martin and Dennis Mueller.
Author : Kōtarō Suzumura
Publisher : Oxford University Press
ISBN 13 : 9780198289142
Total Pages : 308 pages
Book Rating : 4.2/5 (891 download)
Download or read book Competition, Commitment, and Welfare written by Kōtarō Suzumura and published by Oxford University Press. This book was released on 1995 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on the effects of increasing competition between companies on social welfare
Author : Julie A Carlson
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Cooperative R&D and Strategic Trade Policy with Bertrand Competition written by Julie A Carlson and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a strategic trade policy model to analyze the welfare effects from allowing cooperation in R&D when firms compete in a price-setting game in the product market. A policy game between two governments is analyzed, where each government chooses a particular cooperative R&D policy in order to maximize national welfare. At the Nash equilibrium to this game only one government allows cooperation in R&D. This equilibrium is both individually and jointly optimal. International cooperation in R&D is superior to no cooperation in R&D but is inferior to the Nash equilibrium of the government policy game.
Author : National Bureau of Economic Research
Publisher : Princeton University Press
ISBN 13 : 1400879760
Total Pages : 647 pages
Book Rating : 4.4/5 (8 download)
Download or read book The Rate and Direction of Inventive Activity written by National Bureau of Economic Research and published by Princeton University Press. This book was released on 2015-12-08 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author : Nicola Lacetera
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (721 download)
Download or read book Individual Preferences, Organization, and Competition in a Model of R & D Incentive Provision written by Nicola Lacetera and published by . This book was released on 2011 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Understanding the organization of R & D activities requires the simultaneous consideration of scientific workers' talent and tastes, companies' organizational choices, and the characteristics of the relevant industry. We develop a model of the provision of incentives to corporate scientists, in an environment where (1) scientists engage in multiple activities when performing research; (2) knowledge is not perfectly appropriable; (3) scientists are responsive to both monetary and non-monetary incentives; and (4) firms compete on the product market. We show that both the degree of knowledge spillovers and of market competition affect the incentives given to scientists, and these effects interact. First, high knowledge spillovers lead firms to soften incentives when product market competition is high, and to strengthen incentives when competition is low. Second, the relationship between the intensity of competition and the power of incentives is U-shaped, with the exact shape depending on the degree of knowledge spillovers. We also show that the performance-contingent pay for both applied and basic research increases with the non-pecuniary benefits that scientists obtain from research. We relate our findings to the existing empirical research, and also discuss their implications for management and public policy.
Author : Winfried Koeniger
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.E/5 ( download)
Download or read book Employment Protection, Product Market Competition and Growth written by Winfried Koeniger and published by . This book was released on 2002 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen R. Finger
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.:/5 (287 download)
Download or read book Research and Development Competition in the Chemicals Industry written by Stephen R. Finger and published by . This book was released on 2008 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed of two related chapters dealing with research and development. I evaluate the effects of the Research and Experimentation Tax Credit on the Chemicals Industry and then examine the determinants of research joint ventures and technological licenses. The first chapter evaluates the equilibrium effects of the Research and Experimentation Tax Credit, taking into consideration firm interactions. The tax credit was put into place to counteract the underinvestment in private R & D caused by firms not internalizing the benefits of technological spillovers from their research. However, this rationale ignored the impact of product market competition. I propose and estimate a structural dynamic oligopoly model of competition in intellectual assets to capture the impact of interactions between firms in the industry. I estimate the dynamic parameters of the model using methods from Bajari, Benkard, and Levin (2007). I build upon previous estimators by incorporating unobserved firm-level heterogeneity using techniques from Arcidiacono and Miller (2007). I use publicly available panel data on firms' R & D expenditures and their patenting activities to measure innovations. In the data, I observe firms that persistently invest more in research and generate more innovations than other firms that are observationally similar. I model this heterogeneity as an unobserved state that raises a firm's research productivity. In my analysis, I find that increased investment in R & D by more advanced firms due to the subsidy, was largely offset by decreases by smaller firms because of the substitutability of knowledge in product market. This greatly reduced the effectiveness of the policy to spur innovation and limited its impact on social welfare. The second chapter examines the cooperation between innovating firms either through technology licensing or research joint ventures. Both of these types of arrangements help to facilitate the dissemination of productive knowledge permitting the increased application of beneficial innovations. As opposed to the first chapter which considers how untargeted, and unintended transfers of knowledge in the form of spillovers, effected an industry, this chapter examines directed transfers of knowledge. I analyze a cross industry data set of joint ventures and technology licensing deals to examine how industry features affect the manner in which knowledge is shared and how the sharing effects research capabilities of deal participants.
Author : Jay Pil Choi
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (753 download)
Download or read book Cooperative R & D, product market competition and moral hazard written by Jay Pil Choi and published by . This book was released on 1990 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sang-Seung Yi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book R & D Cooperation, Product-Market Collusion and Welfare written by Sang-Seung Yi and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects on conduct and performance of allowing members of an industry-wide research joint venture to exercise a greater monopoly power in the downstream product market. I identify necessary and sufficient conditions for joint commercialization of cooperative research outcomes to raise equilibrium cooperative R & D investments in cost reduction, final output, and social welfare. The main findings are (1) an increased product-market collusion increases firm profit but may increase or decrease cost-reducing R & D investments; (2) full product-market collusion is not socially optimal; (3) if product-market collusion does not increase R & D spending or if R & D cost function is sufficiently convex, no product-market collusion is socially optimal; and (4) a higher spillover rate in R & D makes it more likely that product-market collusion benefits consumers and increases social welfare.
Author : William S. Comanor
Publisher : Routledge
ISBN 13 : 1134766394
Total Pages : 617 pages
Book Rating : 4.1/5 (347 download)
Download or read book Competition Policy in the Global Economy written by William S. Comanor and published by Routledge. This book was released on 2005-10-26 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: International agreements on competition law and policy are notoriously difficult to implement. This collection of essays examines the complexities involved when the issues of international co-ordination and harmonization of competition law and policy are considered.
Author : Michael D. König
Publisher :
ISBN 13 :
Total Pages : 83 pages
Book Rating : 4.:/5 (875 download)
Download or read book R&D Networks written by Michael D. König and published by . This book was released on 2014 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a structural model of R&D alliance networks in which firms jointly form R&D collaborations to lower their production costs while competing on the product market. We derive the Nash equilibrium of this game, provide a welfare analysis and determine the optimal R&D subsidy program that maximizes total welfare. We also identify the key firms, i.e. the firms whose exit would reduce welfare the most. We then structurally estimate our model using a panel dataset of R&D collaborations and annual company reports. We use our estimates to identify the key firms and analyze the impact of R&D subsidy programs. Moreover, we analyze temporal changes in the rankings of key firms and how these changes affect the optimal R&D policy.
Author : Massimo Motta
Publisher : Cambridge University Press
ISBN 13 : 9780521016919
Total Pages : 650 pages
Book Rating : 4.0/5 (169 download)
Download or read book Competition Policy written by Massimo Motta and published by Cambridge University Press. This book was released on 2004-01-12 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to provide a systematic treatment of the economics of antitrust (or competition policy) in a global context. It draws on the literature of industrial organisation and on original analyses to deal with such important issues as cartels, joint-ventures, mergers, vertical contracts, predatory pricing, exclusionary practices, and price discrimination, and to formulate policy implications on these issues. The interaction between theory and practice is one of the main features of the book, which contains frequent references to competition policy cases and a few fully developed case studies. The treatment is written to appeal to practitioners and students, to lawyers and economists. It is not only a textbook in economics for first year graduate or advanced undergraduate courses, but also a book for all those who wish to understand competition issues in a clear and rigorous way. Exercises and some solved problems are provided.
Author : Bruce A. Blonigen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (859 download)
Download or read book Keeping it Fresh written by Bruce A. Blonigen and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product redesigns happen across virtually all types of products. While there is substantial evidence that new varieties of goods increase welfare, there is little evidence on the effect of product redesigns. We develop a model of redesign and exit decisions in a dynamic oligopoly model (a la Bajari et al (2007)) and use it to analyse redesign activity in the U.S. automobile market. We find that automobile model designs become obsolete quickly in this market, leading to fairly frequent redesigns of models despite an estimated average redesign cost around $1 billion. Our model and estimates show that firm redesign decisions depend crucially on competition for market share through introductions of new redesigns, as well as internal incentives for planned obsolescence of the existing model design. Based on our structural model estimates and the simulated counterfactuals, we find that redesigns lead to large increases in welfare, as well as substantial profit for firms, due to the strong preferences consumers display for new model designs. We also show that welfare would be improved if redesign competition were reduced, allowing redesign activity to be more responsive to the planned obsolescence channel. The net effect of these changes would reduce total redesigns by roughly 10%, increasing total welfare by roughly 3%. While our model and welfare simulations are focused on the new automobile market, we provide some evidence that the gains from redesigns in the new automobile market are an order of magnitude larger than the losses in the secondhand automobile market.
Author : Thomas J. Duesterberg
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0313093881
Total Pages : 264 pages
Book Rating : 4.3/5 (13 download)
Download or read book U.S. Manufacturing written by Thomas J. Duesterberg and published by Bloomsbury Publishing USA. This book was released on 2003-09-30 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolving rapidly from a mass-produced product orientation to a flexible, solutions-oriented model, the changing manufacturing sector is poised to lead a global economic recovery. Truly an insider's guide to the future of this critical sector, this book provides policy recommendations based on a wealth of information. Despite the appearance of difficult economic times for U.S. manufacturing, that sector of the American economy is actually the most innovative and competitive in the world. Far from being confined to the tired stereotype of Industrial Age commodities, such as steel and mass-produced consumer products, U.S. manufacturing has long been an engine for growth. In the 1990s, this central role was strengthened as new technology development and application spurred higher levels of growth throughout the economy. In its present configuration, manufacturing includes such high-tech industries as fiberoptics and microchips. Globalization has accelerated the growth of the manufacturing sector by increasing competitive pressures to cut costs and develop new products faster, spreading out the fixed costs of R&D and investment. Truly an insider's guide to the future of this critical sector, this book provides policy recommendations based on a wealth of information. Evolving rapidly from a mass-produced product orientation to a flexible, solutions-oriented model, the changing manufacturing sector is poised to lead a global economic recovery. But it can do so only if the right policies are in place in the United States. To that end, the editors of this volume recommend fiscal and tort reform, higher educational achievement, and continued deregulation. At the international level, further trade liberalization and steps to reduce the trade deficit are recommended to ensure the staying power of U.S. competitiveness, particularly for technology-intensive industries.
Download or read book Research and Development Competition in the Chemicals Industry written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed of two related chapters dealing with research and development. I evaluate the effects of the Research and Experimentation Tax Credit on the Chemicals Industry and then examine the determinants of research joint ventures and technological licenses. The first chapter evaluates the equilibrium effects of the Research and Experimentation Tax Credit, taking into consideration firm interactions. The tax credit was put into place to counteract the underinvestment in private R & D caused by firms not internalizing the benefits of technological spillovers from their research. However, this rationale ignored the impact of product market competition. I propose and estimate a structural dynamic oligopoly model of competition in intellectual assets to capture the impact of interactions between firms in the industry. I estimate the dynamic parameters of the model using methods from Bajari, Benkard, and Levin (2007). I build upon previous estimators by incorporating unobserved firm-level heterogeneity using techniques from Arcidiacono and Miller (2007). I use publicly available panel data on firms' R & D expenditures and their patenting activities to measure innovations. In the data, I observe firms that persistently invest more in research and generate more innovations than other firms that are observationally similar. I model this heterogeneity as an unobserved state that raises a firm's research productivity. In my analysis, I find that increased investment in R & D by more advanced firms due to the subsidy, was largely offset by decreases by smaller firms because of the substitutability of knowledge in product market. This greatly reduced the effectiveness of the policy to spur innovation and limited its impact on social welfare. The second chapter examines the cooperation between innovating firms either through technology licensing or research joint ventures. Both of these types of arrangements help to facilitate the dissemination of productive knowled.
