Issue 4

December 1994

The Effects of Expectations on Technology Adoption: Some Empirical Evidence

Rosenberg [1976] argues that in many markets prospective buyers for an innovation are strongly influenced by expectations "...concerning the timing and significance of future improvements..." The prim

No Lease is Short Enough to Solve the Time Inconsistency Problem

We provide a model of endogenous lease duration determination in the context of the durable goods monopolist problem.

Strategic R & D with Spillovers, Collusion and Welfare

We consider a two-stage R & D then output or price duopoly game in which R & D spills over, so reducing the marginal cost of both the investing firm and its rival.

Vertical Mergers and Firm-Specific Physical Capital: Three Case Studies and Some Evidence on Timing

This paper shows that indirect evidence is often available to assist in understanding the timing of a vertical merger or divestiture.

Mergers and Malls

This paper examines competition between groups of firms selling products which are complementary within the group but substitutes across groups.

Further Evidence on Competition in the US Grain Export Trade

This study analyzes the relationship between export market structure and the pricing behavior of US grain exporting firms.