This paper studies the consequences of parallel import (PI) on process innovation of firms heterogeneous in their production technology. In an international setting where foreign markets differ with respect to their intellectual property rights regime, a move by a technologically inferior firm...

We investigate the welfare effects of third-degree price discrimination by a two-sided platform that enables interaction between buyers and sellers. Sellers are heterogenous with respect to their per-interaction benefit, and, under price discrimination, the platform can condition its fee on...

Innovation and marketing strategies adopted by multinational companies in the globalized economy are subject to continuous challenges. Consider EU exporting companies that produce, for example, solar panels. Depending on political elections and the ensuing support for environmental policies (or...

We analyse the problem of the choice of the market variable in a model where firms activate R&D investments for process innovation. We establish that (i) firms always choose the Cournot behaviour; and (ii) there exists a set of the relevant parameters where a benevolent social planner prefers...

We analyse R&D activity in transport and communication technology (TCRD), in a Cournot duopoly. Transport and communication costs are of the iceberg type, i.e., using up some portion of the product along its path to the final buyer. Firms invest in TCRD to increase the net amount of the product...

In this paper I will evaluate the strategic behavior of two firms which can activate R&D investments either to process or to product innovation. I will consider a particular kind of process R&D activity, which I will call Transport and Communication R&D and which aims at increasing the net...

In this paper I will evaluate the role of R&D investment in transport and communication in a duopoly with trade. I will in fact consider the strategic behavior of two firms located in two different countries. They can activate R&D investments in order to improve the technology of the...

The existence of transport costs among countries makes pricesof tradables diverge. When the market structure is a differentiated oligopoly the prices of tradables increase as a country get larger and/orricher. In a framework of economies of scale-differentiation-monopolistic competition a less...

In this paper we consider a duopoly two-stage duopoly where firms first decide whether to invest in advertising and then compete in prices. Advertising has two effects: a market enlargement for both firms and a predatory gain for the investing firm only. Both symmetric and asymmetric equilibria...

In this paper we propose a simple, intuitive approach to asset valuation in terms of marginal contributions to the characteristics (moments) of the market portfolio. Considering only the first two moments, mean and variance, the valuation equation is shown to correspond to Sharpe's CAPM. A...