The internet has not only reduced consumer search costs, but has also enabled more efficient and sophisticated search procedures. For example, online consumers can streamline their search process if appropriately defined categories of products and services are available. This paper proposes a...

This paper explores the economic factors which determine the variation of research effort across firms. The intra-industry coefficient of variation of research intensity is much larger than those of traditional factors. We show that this important fact is consistent with the theoretical argument...

This paper points out the conceptual distinction between the rates of decay in the physical productivity of traditional capital goods and that of the appropriate revenues accruing to knowledge-producing activities, and notes that it is the latter parameter which is required in any study which...