This paper studies the criteria with which the presence or absence of 'subsidy' in sales contingent Launch Aid Ramp;D support may be determined when payoff-relevant market incompleteness limits the precision of market-based pricing to non-trivial intervals. Existing criteria correctly account...

The role of financial factors as constraints to innovation in the UK is explored using data on individual returns to the second and third Community Innovation Surveys. It is found that financial factors do impact upon innovative activity and that impact is more severe in higher tech sectors and...

Taking a largely empirical approach this paper addresses the global spread of new technologies by defining two diffusion margins – the extensive, referring to the spreading of first use across economies and the intensive, referring to the intensity of use within economies. Using data relating...