The efficiency wage model of Shapiro and Stiglitz (American Economic Review 74: 433-444, 1984) has not always been confirmed by empirical investigations. This could be due to informational problems. Reformulating the Shapiro and Stiglitz model as a sequential game, this paper examines the...

Starting from the premise that firms are distinct in terms of their capacity to create radical product innovations, the present paper attempts to explore how firms choose between different forms of R&D cooperation and their consequences for social welfare. It studies a duopolistic market, where...

There is an emerging body of literature that examines how pro-poor innovations should be created and what business models should accompany them. However, there is little on actual implementation practises and the present paper attempts to fill this void by analyzing the findings of the...

Sanitation is at the heart of not only environmental security but also food security and health. About 42,000 people die every week due to drinking water polluted with faecal matter. The problem is most acute in India, China, many countries of Africa and a few countries of Latin America. Why is...

The present paper examines how an innovating firm decides between two forms of voluntary agreements (VA) in a context, where a non-governmental organization (NGO) rather than a regulator watches over citizens' interests. The innovation generates profit and consumer surplus as well as...

This paper examines how equitable, differentiated pricing can improve access to and affordability of medicines, particularly in low- and middle-income countries, and how governments and supranational agencies can create an environment that enables pharmaceutical companies to operate a...

Sanitation is at the heart of not only environmental security but also food security and health. Today about 41% of the global population or about 2.6 billion people do not have access to toilets and about 42,000 people die every week due to drinking water polluted with faecal matter. The...

A puzzle in the literature on the formation of coalitions supporting International Environmental Agreements (IEAs) is that if an IEA leads to substantial gains, then it will not be supported by many countries. The non-cooperative game theoretic literature highlights the “small coalitions”...