I develop an endogenous growth model that separates firm decisions to invent, patent, and commercialize new innovations. I use the model to examine how multiple dimensions of patent policy impact economic growth by shaping these relative incentives. I pay particular attention to the role of...

Erfolgreiche Unternehmen haben eines gemeinsam. Ihre Produkte und Dienstleitungen oder wenigstens eine(s) davon sind bei bestimmten Kunden besonders gefragt. Der Erlös solcher Produkte erbringt dem Unternehmen mehr als es für dessen Bereitstellung aufwenden muß. Der erwirtschaftete Gewinn...

Auctions are supposed to procure the best deal money can buy. Yet, practitioners who procure complex contracts by auction are well aware of some basic pitfalls. One concern is that winning bids may not reflect the quality of the bidder but strategic behavior like low-balling bids or...

Across the world mobile money schemes are being launched. In such schemes financial service providers interact with clients via mobile phones or other mobile devices such as tablets. Service offerings include payments and saving as well as basic insurance products and sometimes credit based on...

Reconstruction and development. The Bretton Woods conference of 1944 gave rise to a set of global economic institutions - the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD or World Bank) and the General Agreement on Tariffs and Trade (GATT),...

Mobile banking is growing at a remarkable speed around the world. In the process it is creating considerable uncertainty about the appropriate regulatory response to this newly emerging service. This paper sets out a framework for considering the design of regulation of mobile banking. Since it...