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...

This paper presents a large-scale computationally intensive model for understanding the strategic evolution of electricity generating asset portfolios in response to various market interventions, and the consequent longer term effects of such changes on market structure and prices. We formulate a two-stage model involving a Cournot representation of the wholesale electricity market, the perform...

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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An agent-based computational model is developed to explore the evolutionary dynamics of an industry which is subject to knowledge-based competition with entry and exit. It views the production process as a system of inter-dependent activities and the firm as an adaptive entity whose survival depends on its ability to perform various activities with greater efficiency than its rivals. The model ...