Market failures are resulting in network operators and device manufacturers not being incentivized to ensure improved cyber security practices in their operations. The result is a large global base of vulnerable computers, modems/routers and Internet of Things devices which can be manipulated by...

The formation of new firms is an important determinant of economic development and the industrial organization literature highlights agglomeration as one of the main factors affecting the formation and scale of operations of new firms. This paper is one of the first to use developing country...

In contrast to West-Germany, illicit drugs were virtually absent in the East-Germany until 1990. Yet, after the collapse of the former GDR, East-Germany was expected to encounter a sharp increase in the prevalence of substance abuse. By analyzing individual data, we find that East-Germany...

This overview of transaction cost economics is organized around the "Carnegie Triple" - be disciplined; be interdisciplinary; have an active mind. The first of these urges those who would open up the black box of economic organization to do so in a modest, slow, molecular, definitive way, with the...

This paper investigates the determinants of intra-firm trade of multinational firms located in France, using data on French companies. Results on the vertical pattern of production networks differ according to the affiliates? location. Lower wage and transportation costs in the developing...

A general theoretical and empirical framework is developed for assessing the potential of a vertically integrated firm to foreclose downstream competitors. Using this framework a policymaker may also evaluate the empirical welfare effects from a vertically integrated firm raising rivals' costs....

This paper introduces an alternative to the lobbying literature's standard assumption that money buys policies. Our model - in which influence-seeking requires both money to buy access and managerial time to utilize access - offers three significant benefits. First, it counters criticism that...

The influential piracy paper by Professors Oberholzer-Gee and Strumpf, although mainly based on proprietary data, contained an 'important complement' to the main results, consisting of four "quasi-experiments" using publicly available data. This replication examines all of these...

Most growth theorists agree that understanding the economics of innovation and technological change is central to understanding why some countries are richer and/or grow faster than other countries. The driving force behind recent developments in endogenous innovation models of growth is a...

In order to investigate the effectiveness of science and technology industrial parks (STIPs), this study examines data on high-tech firms within and outside the STIPs in China, while paying special attention to the issues related to agglomeration and congestion. The main finding is that the...