This paper explores mechanisms through which a party's choice of governance mode for a focal transaction is constrained by the governance choices it made for other, prior transactions. We argue that this condition of "governance inseparability" plays an important role in determining the...

We focus on the firm's decision to enter insular technology domains and its effect on the impact that its subsequent innovation has on the field. Insular domains are technical domains that rely heavily on prior innovations within the same domain for subsequent innovations. We show that the...

European Union policies effectively prohibit the production and consumption of genetically modified agricultural products. This paper examines the prohibition's effects on research and development, innovation, trade flows, and economic growth using a Heckscher-Ohlin-Samuelson trade model with a...

This paper analyses the potentially conflictual provisions of the Agreement on the Trade-Related Aspects of Intellectual Property Rights (TRIPS) and the Convention on Biological Diversity (CBD) pertaining to plant genetic resources and intellectual property rights (IPRs). It concludes that...

This paper aims to relate the principles of Ronald Coase Theorem with negative impacts of biotechnology, taking cases of specific research groups and medium-sized companies in biotechnology. We consider an application of economic theory on transaction costs (TC) provides a good foundation for...

This article encompasses what are the main interests of stem cell research and what are the hopes from them. Further, it recites the moral and legal status of the Human stem cell in different jurisdictions. Furthermore, it furnishes glimpse about regulation of embryo research and embryonic stem...

The U.S. public biomedical research system is renowned for its apolitical “peer-review” process that awards federal funds to meritorious research performers. Although Congressional appropriations committee members do not make direct transfers to research performers, they support allocations...

There are major differences in regulation among various countries. A particular case is the difference between the EU and US in regulating biotechnology. We develop a formal and dynamic model of government decision-making on regulation. We show that minor differences in consumer preferences can...