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This paper presents an equilibrium model in a pure exchange economy when investors have three possible sources of heterogeneity. Investors may differ in their beliefs, in their level of risk aversion, and in their time preference rate. The authors study th ...
Because they provide exclusive property rights, patents are generally considered to be an effective way to promote intellectual discovery. Here, we propose a different compensation scheme, in which everyone holds shares in the components of potential disco ...
This thesis consists of three chapters. The first chapter endogenizes technological change by introducing a stylized innovation process driven by a R&D–dependent Poisson process in a Cox, Ingersoll and Ross (1985) production economy. The model reproduces s ...
This paper presents an equilibrium model in a pure exchange econ- omy when investors have three possible sources of heterogeneity. In- vestors may di§er in their beliefs, in their level of risk aversion and in their time preference rate. We study the impac ...
Wireless community networks that operate in the unlicensed spectrum have emerged as a low-cost alternative for providing high-speed wireless data services. By using WiFi access points that are provided and managed by community members, wireless community n ...
This paper empirically assesses the effect of liberalisation and competition on innovation in the postal sector. The analysis is restricted to end-to-end competition. The effect on the incentives to innovate of public ownership, letter volume, and other co ...
This paper examines the effects of capital gains taxation on firms’ investment and financing decisions. We develop a real options model in which the timing of investment, the decision to default, and the firm’s capital structure are endogenously and jointl ...
Discrete choice modeling advances abound for scenarios where we can collect data about the behaviors of individuals, and observe their ultimate choice from among the range of possible alternatives. However, particularly in competitive private sector enterp ...
Let G be a graph with n vertices and ea parts per thousand yen4n edges, drawn in the plane in such a way that if two or more edges (arcs) share an interior point p, then they properly cross one another at p. It is shown that the number of crossing points, ...
This thesis is concerned with the practical results of the use of electronic tools as a means of gathering public input for urban development projects. Of particular interest was the capacity of Information and Communication Technologies (ICTs) to improve ...
