Issue 3

September 1998

Takeover Risk and Dividend Strategy: A Study of UK Firms

We investigate the relationship between a company’s dividend strategy and its risk of takeover.

Market Power and Multimarket Contact: Some Evidence from the Spanish Hotel Industry

This paper analyses the effect of multimarket contact on firms’ behaviour.

Sunk Costs, Accommodation, and the Welfare Effects of Entry

Although economists usually support the unrestricted entry of firms into an industry, entry may lower social welfare if there are setup costs or if entrants have a cost disadvantage.

Endogenous Spillovers and the Performance of Research Joint Ventures

We present a model of R&D with endogenous spillovers and demonstrate that noncooperation can produce maximal spillovers. The only other noncooperative outcome is minimal spillovers.

Innovations, Prices and Employment: A Theoretical Model and an Empirical Application for West German Manufacturing Firms

In this paper a theoretical model of the impact of product and process innovations on output, capacity utilization, employment and prices is developed.

A Theory of Economic Obsolescence

A new generation of durable goods makes an old generation economically, even if not physically, obsolete.


Strategic Choice of Flexible Production Technologies and Welfare Implications

Sudheer Gupta

No abstract is available for this article