The model studies information sharing and the stability of cooperation in cost reducing Research Joint Ventures (RJVs). In a four-stage game-theoretic framework, firms decide on participation in a RJV, information sharing, R&D expenditures, and output. An important feature of the model is that...

Unit Root Tests Applied to Post-War Seasonally Adjusted Quarterly Gnp Series Strongly Support the Null Hypothesis of the Presence of a Unit Root in the Data-Generating Process. Evidence Reported Here with Seasonally Unadjusted Data Is Far Less Conclusive. It Is Explained Why Seasonal Adjustment...

In This Note, We Present the Appropriate Forms of Shephard's Lemma, As Well As the Curvature and Homogeneity Properties, for the Case of a Rate-Of- Return Regulated Cost Function Where Capital Is a Quasi-Fixed Input.

Every Year the Government Makes Up a Budget for the Forthcoming Fiscal Year. During the Budget Process, Projections Are Made of Expenditures and Ten Receipts Contingent Upon Predictions of Key Macroeconomic Variables. Naturally, One Expects That the Budget Deficit Or Surplus Actually Realized...

This Paper Provides a Formal Representation of Telser (1966)'S Deep Pocket Argument. According to Telser, Predation May Take Place Because Typical Entrants Are More Vulnerable Financially Than Are Typical Incubents. We Propose That Entrants' Financial Vulnerability May Be Explained by...