Related papers: Trade Liberalization, Export and Product Innovatio…
In a legal dispute, parties engage in a series of negotiations so as to arrive at a reasonable settlement. The parties need to present a fair and reasonable bargain in order to induce the WTA, willingness to accept of the plaintiff and the…
Context. Innovation is promoted in companies to help them stay competitive. Four types of innovation are defined: product, process, business, and organizational. Objective. We want to understand the perception of the innovation concept in…
Innovation in the economy is an important engine of growth and no economy, whatever its complexity and degree of advancement, whether it is based on industry, agriculture, high tech or the providing of services, can be truly healthy without…
When decisions about developing standards are left to individual firms, there are many advantages including a flexible response to market evolution, accommodation to rapid technology change, and avoidance of costly coordination. However,…
Using administrative data on the universe of inter-firm transactions in Spain, we show that firms learn to import from their domestic suppliers and customers. Our identification strategy exploits the panel structure of the data, the…
This study investigates the role of logistics and its six components on trade flows in selected Economic Community of West Africa States (ECOWAS) countries. The impact of other macro-economic variables on trade flows was also investigated.…
The optimal price of each firm falls in the search cost of consumers, in the limit to the monopoly price, despite the exit of lower-value consumers in response to costlier search. Exit means that fewer inframarginal consumers remain. The…
Trade networks, across which countries distribute their products, are crucial components of the globalized world economy. Their structure is strongly heterogeneous across products, given the different features of the countries which buy and…
This paper studies four trading algorithms of a professional trader at a multilateral trading facility, observing a realistic two-sided limit order book whose dynamics are driven by the order book events. The identity of the trader can be…
We observe nominal price rigidity in tobacco markets across China. The monopolistic seller responds by adjusting product assortments, which remain unobserved by the analyst. We develop and estimate a logit demand model that incorporates…
A country's mix of products predicts its subsequent pattern of diversification and economic growth. But does this product mix also predict income inequality? Here we combine methods from econometrics, network science, and economic…
In this paper, I propose a new general equilibrium model that explains stylized facts about venture capitalists' impact on their portfolio firms. Venture capitalists can help increase firms' productivity, yet they face increasing entry…
Further electrification of the economy is expected to sharpen ramp rates and increase peak loads. Flexibility from the demand side, which new technologies might facilitate, can help these operational challenges. Electric utilities have…
We examine a green transition policy involving a tax on brown goods in an economy where preferences for green consumption consist of a constant intrinsic individual component and an evolving social component. We analyse equilibrium dynamics…
In this paper, the agent-based modeling is employed to model the effect of intellectual property policy at the speed of technological advancement. Every agent has inborn preferences towards investing their capital into independent…
In this paper, we construct an analytical model of the data economy with empirical evidence to explain the nexus between dataization and technological progress in general equilibrium. Data originates from the dataization of firm total…
This paper identifies the impact of China-U.S. science and technology (S&T) friction on knowledge flows in different fields, using data on invention patent applications from China, the U.S., Europe, and the World Patent Office (WPO) along…
The Hicks induced innovation hypothesis states that a price increase of a production factor is a spur to invention. We propose an alternative hypothesis restating that a spur to invention require not only an increase of one factor but also…
Bilateral trade models the task of intermediating between two strategic agents, a seller and a buyer, willing to trade a good for which they hold private valuations. We study this problem from the perspective of a broker, in a regret…
We develop a novel methodology for the proxy variable identification of firm productivity in the presence of productivity-modifying learning and spillovers which facilitates a unified "internally consistent" analysis of the spillover…