Most industrialized countries subsidize private sector R&D, even under some circumstances when the firm is owned by foreigners. The present paper, using a simple theoretical analysis of a monopoly firm selling only to the U.S. market, argues that such subsidies are welfare enhancing--as long, of...

In a two-country world for a product which in the absence of trade is provided by a monopoly in each country, opening trade effectively creates a world duopoly rather than two separate country monopolies. Suppose the goods produced in the competing countries differ in quality because the firm's...

In this paper a dynamic model suitable for simulating real operating conditions of air-based photovoltaic thermal (PVT) systems is presented. The performance of the model is validated by using the operational data collected from the building integrated photovoltaic (PVT) systems installed in two...