In this article, we argue that aggregate litigation and the court system can not only restore the protection of victims and the production of deterrence, but also play a pivotal role in stimulating regulatory innovation. This is accomplished through a reward system that seems largely to mimic...

Insights from industrial organization, Schumpeterian innovation, and economic development theories are used to try to explain firm behavior in cases of successful acquisition of advancedtechnological assets and international trade competitiveness by Asian and Latin-american countries at an...