This paper draws on two extensive case studies to explore how the co-production and exchange of knowledge is organised during innovative activity. In the empirical cases multiple, transient innovation systems emerge, and self organise, around a particular problem. The emergence and evolution of these innovation systems involves the mutual intrapenetration of market and non-market forms of excha...

We show that U.S. withdrawal from the Kyoto Protocol is straightforward under political economy considerations. The reason is that U.S. compliance costs exceed low willingness to pay for dealing with global warming in the U.S. The withdrawal had a crucial impact on the concretion of the Protocol prior to its likely ratification at the end of 2002. Remaining non-EU Parties to the Kyoto Protocol ...

Abstract This paper analyzes the exchange rate pass-through to consumer prices for 85 categories of goods and services in Switzerland. The estimates are computed using a synthetic difference-in-differences approach that exploits large Swiss franc appreciation followed unexpected removal franc-Euro floor January 2015. overall 1-year all-items is 0.12, which shows highly incomplete. There an impo...

Although companies are more and more developing complex networks of connections with their partners and customers and shifting their focus towards expanding the knowledge management concept externally, research addressing the management of knowledge across organizational borders is rather sparse. Our aim in the present paper is to develop a typology of cross-organizational networks of informati...

The original double auction studies of supply and demand markets established their strong efficiency and equilibrium convergence behavior using economically unsophisticated and untrained subjects. The results were unexpected because all individual costs and values were private and dependent entirely on the market trading process to aggregate the dispersed information into socially desirable out...

The business literature and recent descriptive evidence show that exporting firms typically require the help of foreign trade intermediaries or need to set up own foreign wholesale affiliates. In contrast, conventional trade theory models assume that producers can directly access foreign consumers. This paper introduces intermediaries in an international trade model where producers differ with ...

We propose a new performance metric by which to evaluate capital budgeting proposals. Our metric is derived from a decision theoretic view of the firm’s problem in deciding whether to invest in a risky project. Our approach contrasts considerably from the Black-Scholes method, specifically by not making the same assumptions regarding the properties of the underlying asset on which the option ma...

We examine the effect of financial integration on capital stocks and income per capita, explicitly taking into account the division of output between tradable and non-tradable goods. Capital per worker in a financially integrated country is shown to depend on the size and relative capital-intensity of the tradable sector. Using a panel of 67 countries over the period 1976-1999, we show a weakly...

This paper estimates a heterogeneous firms trade model using disaggregate data on export values and prices. Prices contain information about differences in product quality across firms and countries that helps identify key mechanisms in the model. Examining within-country variation in export prices across destination markets, I find that prices behave in a manner inconsistent with the benchmark...