In a model with endogenous number of innovating firms, we show that whether patent protection increases R&D investment is ambiguous, and depends on the market demand function and the cost of R&D. If the market size increases with number of firms, patent protection reduces R&D investment if the cost of R&D is sufficiently high, and higher product differentiation increases the possibility of lowe...

This paper presents the case for and the evidence in favour of passive investment strategies and examines the major criticisms of the technique. I conclude that the evidence strongly supports passive investment management in all markets—smallcapitalisation stocks as well as large-capitalisation equities, US markets as well as international markets, and bonds as well as stocks. Recent attacks on...

International markets for tradable emission permits (TEP) co-exist with national energy taxation. A firm trading emission permits in the international market also pays energy taxes in its host country, thus creating an interaction between the international TEP-market and national energy taxes. In this paper we model that interaction in a framework of a perfectly competitive international TEP-ma...

This paper examines the nature of market orientation (MO) in entrepreneurial firms and proposes a conceptual model of market firm interface appropriate to entrepreneur led firms.

Based on a feasibility analysis on the product and source market orientation of the Ailing River Drifting Scenic Spot, this article explores its product quality as well as market strategies in four aspects including product, price, promotion and place.

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