Our analysis provides a rationale for the existence of a positive fixed-fee and output royalty in the licensing contracts. In this article, we show that the preference functions play an important role in this respect. As the market expansion effect gets weaker, it reduces the possibility of a...

The PROMETHEE is a significant method for evaluating alternatives with respect to criteria in multi-criteria decision-making problems. It is characterized by many types of preference functions that are used for assigning the differences between alternatives in judgements. This paper proposes a...

The PROMETHEE is a significant method for evaluating alternatives with respect to criteria in multi-criteria decision-making problems. It is characterized by many types of preference functions that are used for assigning the differences between alternatives in judgements. This paper proposes a...

Abstract: In this paper I investigate the relationship between firms’ investment in product and process innovation, in particular how this relationship is affected by the consumer’s valuation for variety. Depending on the strength of the consumer’s value of variety, the aggregate demand...

This paper investigates social preferences towards unemployment and inflation in the United States. Estimating a popularity function with monthly data for the recent Obama administration, we find that U.S. voters react strongly to both unemployment and inflation. However, reducing unemployment...