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on Central and Western Asia |
| By: | Roberto Casarin (University Ca’ Foscari of Venice and GRETA); Stefano Grassi (Aarhus University and CREATES); Francesco Ravazzolo (Norges Bank and BI Norwegian Business School); Herman K. van Dijk (Erasmus University Rotterdam, VU University Amsterdam and Tinbergen Institute) |
| Abstract: | This paper presents the Matlab package DeCo (Density Combination) which is based on the paper by Billio et al. (2013) where a constructive Bayesian approach is presented for combining predictive densities originating from different models or other sources of information. The combination weights are time-varying and may depend on past predictive forecasting performances and other learning mechanisms. The core algorithm is the function DeCo which applies banks of parallel Sequential Monte Carlo algorithms to filter the time-varying combination weights. The DeCo procedure has been implemented both for standard CPU computing and for Graphical Process Unit (GPU) parallel computing. For the GPU implementation we use the Matlab parallel computing toolbox and show how to use General Purposes GPU computing almost effortless. This GPU implementation comes with a speed up of the execution time up to seventy times compared to a standard CPU Matlab implementation on a multicore CPU. We show the use of the package and the computational gain of the GPU version, through some simulation experiments and empirical applications. |
| Keywords: | Density Forecast Combination, Sequential Monte Carlo, Parallel Computing, GPU, Matlab |
| JEL: | C11 C15 C53 E37 |
| Date: | 2013–08–04 |
| URL: | http://d.repec.org/n?u=RePEc:aah:create:2013-09&r=cwa |
| By: | Mandar Oak (School of Economics, University of Adelaide, SA 5005) |
| Abstract: | In a provocative paper, Basu (2011) argues that for a class of bribes, called harassment bribes, legalization of bribe giving will reduce bribery. We examine the applicability of Basu's insight in a realistically complex environment in which the type of the bribe---harassment or non-harassment---is endogenously determined, and it is not feasible to legalize the giving of non-harassment bribes. We find that in such environment Basu's proposal, in and of itself, yields mixed results: in some cases it can reduce even the prevalence of non-harassment bribes and improve social welfare. However, in other cases it will be counter-productive, i.e., it can reduce social welfare while failing to eliminate bribery. Our analysis points to additional policies aimed at strengthening the legal institutions which, in conjunction with Basu's proposal, will help reduce bribery. |
| Keywords: | Corruption, Bribery, Harassment Bribes, Non-Harassment Bribes |
| JEL: | D73 K42 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:adl:wpaper:2013-06&r=cwa |
| By: | David Córcoles (University of Castilla-La Mancha); Carmen Díaz-Mora (University of Castilla-La Mancha); Rosario Gandoy (University of Castilla-La Mancha) |
| Abstract: | This paper focuses on the role of product sophistication in determining the permanence in international production networks. The probability of remaining in the global production chains in a changing and unstable competitive environment is expected to be higher for suppliers that provide the most sophisticated goods, i.e. goods that incorporate the most advanced economies’ capabilities. In order to check this hypothesis we use discrete time duration model. Our estimates indicate that, indeed, the risk of being removed from production networks decreases not only with the complexity of the products, but also with the reduction of uncertainty in production and trade relationships and with the degree of integration in these international-scale networks. |
| Keywords: | Product sophistication, International Production Networks, Export Survival, Time-Discrete Duration Models |
| JEL: | F10 F14 C41 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:aee:wpaper:1303&r=cwa |
| By: | Nadir Altinok (BETA (University of Lorraine), IREDU (University of Bourgogne, France); Claude Diebolt (BETA (Bureau d'Economie Théorique et Appliquée), France); Jean-Luc Demeulemeester (DULBEA (University of Bruxelles), Bruxelles) |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:afc:wpaper:03-13&r=cwa |
| By: | Colson, Gregory; Ramirez, Octavio A.; Fu, Shengfei |
| Keywords: | Agricultural and Food Policy, Agricultural Finance, |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:ags:ugeofs:146993&r=cwa |
| By: | Raouf Boucekkine (Aix-Marseille University (Aix-Marseille School of Economics, CNRS & EHESS, IRES and CORE, Université Catholique de Louvain.); Natali Hritonenko (Department of Mathematics, Prairie View A&M University); Yuri Yatsenko (Houston Baptist University) |
| Abstract: | Work significantly affects human life and health. Overworking may decrease the quality of life and cause direct economic losses. Technological innovations encourage modernization of firms’ capital and improve labor productivity in the workplace. The paper investigates the optimal individual choice of work intensity under improving technology embodied in new equipment leading to shorter lifetime of capital goods (obsolescence). The balanced growth trajectories are analyzed in this context to find out, in particular, how the optimal choice of work intensity is tied to the rate of embodied technological change. The impact of embodied technological advances on the work/life balance problem is discussed and their macroeconomic consequences are highlighted. |
| Keywords: | work-life balance, rational individual choice, technological development, vintage capital. |
| JEL: | D91 D92 O11 I10 C60 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:1320&r=cwa |
| By: | Renaud Bourlès (Ecole Centrale Marseille (Aix-Marseille School of Economics), CNRS & EHESS); Anastasia Cozarenco (Aix-Marseille University (Aix-Marseille School of Economics), CNRS & EHESS) |
| Abstract: | We analyze in this paper how various forms of State intervention can impact the microcredit market in developed countries. Using a simple model where entrepreneurs borrow without collateral, we study the effect of different policies on microfinance institutions' lending behavior. We first introduce state intervention through the loan guarantee and show that, not surprisingly, it increases the number of entrepreneurs receiving a loan. However, after modeling business development services provided by the microfinance institution, we show that the government loan guarantee can have a counterproductive effect by reducing the number of entrepreneurs benefiting from such services. We therefore analyze an alternative policy: the subsidization of business development services by the State. We then provide a condition under which - for fixed government expenditures - such subsidies are more effective (in terms of outreach) than loan guarantees. |
| Keywords: | microcredit, loan guarantee, business development services, microfinance institution. |
| JEL: | G14 G21 G38 D45 D82 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:1325&r=cwa |
| By: | Arnold, Lindsay S.; Flannery, Aimee; Ledbetter, Lauren; Bills, Tierra; Jones, Michael G.; Ragland, David R.; Spautz, Laura |
| Abstract: | This project examined the safety and demand issues for pedestrians and bicyclists at multi-lane roundabouts through a literature review, case studies, in-field counts and surveys, focus groups, and video analysis. This document presents research findings, synthesizes current information on best practices, and makes recommendations to assist local agencies planning and designing safer multi-lane roundabouts. These findings should help local agencies and Caltrans create roundabouts that better and more safely address the needs of bicyclists and pedestrians. The current literature is referred to throughout the document to augment the research team’s findings, especially for issues that were beyond the scope of this project. Key findings in the areas of pedestrian and bicyclist avoidance of, behavior around, and collisions at multi-lane roundabouts are presented along with recommendations for geometric design, design speed, sight distance, width of lanes, signage and pavement markings, and operational recommendations. |
| Keywords: | Transportation and Highway Engineering |
| Date: | 2013–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt5ss288j8&r=cwa |
| By: | Leonardo Costa Ribeiro (INPI); Glenda Kruss (HSRC South Africa); Gustavo Britto (Cedeplar-UFMG); Ricardo Machado Ruiz (Cedeplar-UFMG); Américo Tristão Bernardes (UFOP); Eduardo da Motta e Albuquerque (Cedeplar-UFMG) |
| Abstract: | The role of multinational enterprises in the internationalization of production has been recognized and studied from several points of view. We believe that multinational firms have a similar role in shaping flows of knowledge, technology, and scientific research. Therefore, multinational firms, science and technology could be linked in a way that allows us to identify Global Innovation Networks (GIN), another and important feature of the internationalization of capital. The goal of this paper is to develop a methodology to identify GINs, based on previous work on patents and their citations of scientific papers, which was adapted to track GINs. That is, the main indicators measure interactions between firms and universities. We argue that the links between patenting firms and the authors of cited papers establish connections that allow the identification of several types of GINs. A case study of IBM is presented in this paper, as a well-known leading patent firm with several papers cited in its patents. It may provide an excellent case to demonstrate how the selected indicators describe the knowledge flows between firms and research institutions. The conclusion shows that other GINs can be identified applying the same methodology. |
| Keywords: | multinational firms, complex networks; diffusion; patents; innovation; technological change |
| Date: | 2012–10 |
| URL: | http://d.repec.org/n?u=RePEc:cdp:texdis:td463&r=cwa |
| By: | Rajshree Agarwal; Benjamin A. Campbell; April M. Franco; Martin Ganco |
| Abstract: | Our study examines the mediating effect of spin-out team characteristics on the relationship between founder quality and parent and spin-out performance. Since the ability to transfer or recreate complementary assets is a critical determinant of performance, we theorize and show that founders with greater ability impact both parent firm and spin-out performance by assembling teams that represent strong complementary human capital. Using linked employee-employer US Census data from the legal services industry, we find founding team size and tenure mediate the founder quality effect. Our findings have practical implications for both managers of existing firms and aspiring founders as it relates to their human resource strategies: the factor most salient to performance is not the individual quality per se, but the manner in which it impacts the transfer and spillover of complementary human capital. |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:13-17&r=cwa |
| By: | Xiaoyang Li |
| Abstract: | This paper investigates how takeovers create value. Using plant-level data, I show that acquirers increase targets’ productivity through more efficient use of capital and labor. Acquirers significantly reduce capital expenditures, wages, and employment in target plants, though output is unchanged. Acquirers improve targets’investment efficiency through better capital reallocation. Moreover, changes in productivity help explain the merging firms’ announcement returns. The combined announcement returns are driven by improvements in target’s productivity. Targets with greater productivity improvements receive higher premiums. These results provide some first empirical evidence on the relation between productivity and stock returns in the context of takeovers. |
| Keywords: | Takeovers, Announcement returns, Productivity, Investments, Wages, Employment |
| JEL: | G34 D24 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:13-18&r=cwa |
| By: | Antoine Dechezleprêtre |
| Abstract: | This paper presents the first empirical analysis of programmes to fast-track 'green' patent applications in place in seven Intellectual Property offices around the world. We find that only a small share of green patent applications (between 1% and 20% depending on the patent office) request accelerated examination, suggesting that patent applicants have a strong incentive to keep their patent applications in the examination process for as long as possible. Fast-tracking programmes reduce the examination process by several years compared to patents going through normal examination procedure and have seemingly accelerated the diffusion of technological knowledge in green technologies. In addition, we find that applicants require accelerated examination for patents of relatively higher value and that fast-tracking programmes seem to be particularly appealing to start-up companies in the green technology sector that are currently raising capital but still generate small revenue. |
| Keywords: | green patent application, green innovation, Intellectual Property, sustainable development |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1197&r=cwa |
| By: | Cansin Pek (UP1 UFR02 - Université Paris 1, Panthéon-Sorbonne - UFR d'Économie - Université Paris I - Panthéon-Sorbonne) |
| Abstract: | A general equilibrium model of international trade with heterogeneous firms, under the assumption that the distribution of productivity across firms is Pareto, delivers systematically diff erent power law exponents for exporting and non-exporting firms. In this setup, the presence of international trade systematically a ffects the firm size distribution to make it more heavy-tailed. This model predicts that the power law exponent for exporters should be strictly lower in absolute value than the power law exponent for non-exporters. Following the propositions made in the literature, we estimate the power law exponent for a large sample of Turkish firms. We also question the applicability of the OLS regression in the context of power law estimation and provide maximum likelihood estimates, which have been proven to be consistent and effi cient in this context. Along with the maximum likelihood estimates, we also provide the CDF and ln(Rank-1/2)-ln(size) estimates. Our results provide supporting evidence for the theoretical predictions, according to which the distribution of firm size has heavier tails due to exporting behaviour. |
| Keywords: | commerce extérieur, entreprises, Turquie |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:dumas-00807765&r=cwa |
| By: | Olivier Hueber (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR7321 - Université Nice Sophia Antipolis (UNS)) |
| Abstract: | Sophia Antipolis was created by the public authorities to attract high value added activities on the French Riviera, in the aim of strengthening a local economy driven historically by tourism. The theoretical model that has inspired the creation of Sophia Antipolis is governed by a top-down approach. The agglomerations externalities, had not sprung up naturally from the dynamics of entreprises located in the cluster. The economic model of Sophia Antipolis is completely different of the traditional innovative district studied by Alfred Marshall (bottom-up approach). Nowadays, the cluster of Sophia-Antipolis is rich of external linkages, but poor of internal relations between the firms. In this local system of Innovation, a large numbers of actors in different sectors are present but any of them is sufficiently dominant to drive the cluster orientations. In this sense, this Local System of Innovation (LSI) is not reliable in the long run. Very few, almost no technological collaborations can be observed. The sustainability of the Sophia-Antipolis cluster does not really depend on the territory. the weakness of the cooperation between companies of the cluster can be partially explained by the local multinational firms which have their branch facilities located in the local system of innovation but at the same time their head office external to the cluster with main decision taken from outside, limiting the potential for local synergies and local collaboration. The aim of this paper is to understand the coordination mechanisms between enterprises and the main factors of success who made Sophia-Antipolis the largest technology park in the Europe. Such a study presents the Top-down strategy of developpement choosen by the government from the origins of Sophia-Antipolis to promote agglomeration externalities and the increasing returns to adoption gained by firms entering in the park. |
| Keywords: | clusters;entrepreneurship;innovative pole;network externality;agglomeration effect;Top-down;bottom-up |
| Date: | 2012–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00806571&r=cwa |
| By: | Yann Kossi (GATE Lyon Saint-Etienne - Groupe d'analyse et de théorie économique - CNRS : UMR5824 - Université Lumière - Lyon II - École Normale Supérieure - Lyon); Jean-Yves Lesueur (GATE Lyon Saint-Etienne - Groupe d'analyse et de théorie économique - CNRS : UMR5824 - Université Lumière - Lyon II - École Normale Supérieure - Lyon); Mareva Sabatier (IREGE - Institut de Recherche en Gestion et en Economie - Université de Savoie) |
| Abstract: | The scientific environment might influence university researchers' job designs. In a principal-agent model, researchers must choose between substitutable tasks, publishing or teaching, according to their individual abilities and the scientific and pedagogical context that exists in their universities. This proposed model shows that scientific production can increase, regardless of researchers' abilities, if the scientific environment favours agglomeration effects. The authors test these predictions using an original data set of French economics professors that reveals their individual investments in both teaching and publishing. The econometric results confirm that the tasks conflict and that the scientific context affects researchers' investments in each task. |
| Keywords: | scientific production; multitasking; scientific environment |
| Date: | 2013–04–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-00806801&r=cwa |
| By: | Karlsson, Charlie (Jönköping International Business School); Johansson, Börje (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); R. Stough, Roger (George Mason University) |
| Abstract: | The purpose of this working paper is to provide a short overview of actual topics in contemporary research concerned with global, national, regional and local knowledge and innovation dynamics. In the text, we stress the importance to understand the current changes of the global and their implications for knowledge generation and innovation. Treating knowledge as a key resource for innovation shifts the focus from the innovation itself to the process of knowledge generation, transformation and diffusion, i.e. to knowledge dynamics. This necessitates integrating spatial aspects since knowledge generation and as a result, innovation exhibits a strong geographical clustering, which implies that innovation ability and innovation resources also are strongly clustered geographically in particular to urban regions. The role of interaction and proximity for knowledge generation and innovation is highlighted and instead it is stressed that relational, cognitive, organizational, social and institutional proximities are not substitutes or complements to spatial proximity but that they are all functions of the prevailing spatial proximity. Another important factor for interaction is social capital, which by fostering trust makes information and knowledge to diffuse faster. |
| Keywords: | Knowledge; innovation; proximity; knowledge economy; knowledge dynamics; knowledge networks; innovation ability; innovation resources; globalization; agglomeration; face-to-face interaction; urban regions; social capital |
| JEL: | O31 O32 O33 R12 |
| Date: | 2013–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0305&r=cwa |
| By: | Jirada Prasartpornsirichoke (Graduate School for International Development and Cooperation, Hiroshima University); Yoshi Takahashi (Graduate School for International Development and Cooperation, Hiroshima University) |
| Abstract: | Using data from Thailand's Household Socioeconomic Survey, this paper measures the inequalities of Thai education in 2011. We utilize the Gini coefficients to estimate Thai educational inequalities from cumulative years of educational attainment which are between zero (no schooling) to twenty-one (doctoral level) years. The education Gini coefficient of the whole country is 0.349. At the provincial level, the Gini coefficients are in a range between 0.272 (Nonthaburi) and 0.521 (Mae hong son). The provinces located near the Bangkok metropolis have greater equality in education, except for Samut Sakhon, while the provinces in the northern part of Thailand have severe inequality in education, especially the border provinces. As for the effect of schooling on educational inequality, we found that at the regional level, average years of schooling was significantly and negatively associated with the educational inequality, except in the northern part of Thailand. The magnitudes of coefficients of average years of schooling in the northern and southern parts are twice that of the central part of Thailand. The policy implication of this paper is that the Thai government should pay attention to two points in adjusting the scope of distribution: reduce the number of people without schooling and extend the educational attainment of people with primary education to secondary education. At the regional level, the policy of education expansion for reducing educational inequality is workable only in central Thailand, the north, and the south. Governments should utilize different policies in each region. In addition, the Thai government should pay more attention to solving the social problems which contribute to the issue of educational inequality. |
| Keywords: | Inequality in education, the Gini coefficient, Years of schooling, Thai education |
| JEL: | I24 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:hir:idecdp:3-2&r=cwa |
| By: | Aoki, Reiko; Arai, Yasuhiro |
| Abstract: | We present a framework to examine how a standard evolves when a standard consortium or a firm (incumbent) innovates either to improve the standard or to strengthen installed base which increases switching cost. Both investments make it more difficult for another firm (entrant) to introduce a standard, also by investing in technology improvement. We show that incumbent's strategy will differ according to if the technology is in infancy or it has matured. The incumbent will deter entry when the technology is in infancy and return from investment is high. In this case ability to raise switching cost is important since entrant also has low cost. If the technology is mature and return to investment is low, then incumbent will choose to allow entry and there is co-existence of two standards. Replacement of standard by the entrant never occurs in equilibrium. |
| Keywords: | standards, innovation, installed base |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:hit:cisdps:601&r=cwa |
| By: | Sripad Motiram (Indira Gandhi Institute of Development Research); Karthikeya Naraparaju (Indira Gandhi Institute of Development Research) |
| Abstract: | We investigate the relationship between growth and deprivation in India, an issue of immense interest. Given the continuing controversy in India over poverty lines, we use a framework that rigorously assesses the impact of growth on the poor over a range of poverty lines. Using National sample Surveys on consumption expenditure, we show that while growth has "trickled down" in both rural and urban areas, it has not been in favour of the poor. In urban areas, growth has been "anti-poor." We extend this methodology to incorporate sub-groups and consider disadvantaged caste groups and poorer/lower classes. We find that growth has not been in favour of the poor among these groups. Our findings raise serious concerns about the "inclusiveness" of Indian growth. Our analysis also has implications for pro-poor growth and the measurement of inequality. |
| Keywords: | Pro-poor growth; Poverty, Inclusion, India |
| JEL: | D63 I32 |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:ind:igiwpp:2013-005&r=cwa |
| By: | Panagiotis Kampylis Author-1-Name-First: Panagiotis Author-1-Name-Last: Kampylis (European Commission – JRC - IPTS); Stefania Bocconi Author-2-Name-First: Stefania Author-2-Name-Last: Bocconi (European Commission – JRC - IPTS); Yves Punie Author-3-Name-First: Yves Author-3-Name-Last: Punie (European Commission – JRC - IPTS) |
| Abstract: | ICT is regarded as a key enabler of innovation and creativity in E&T and for learning at large. Based on desk research and on previous JRC-IPTS studies, this report provides a definition and classification of ICT-enabled innovation for learning that has significant scale and/or impact at system level, both within formal Education and Training and outside formal settings. A mapping framework is also proposed that can be used for an in-depth analysis of existing initiatives showing how ICT-enabled innovation is implemented on a large scale. Finally, the report provides a preliminary application of four diverse initiatives on the proposed mapping framework. |
| Keywords: | Europe 2020 Strategy, Learning, Skilling, Innovation & Creativity in Education and Training, ICT-enabled innovation for learning, classifications of innovation for learning, mapping framework of ICT-enabled innovation for learning, Creative Classrooms |
| JEL: | I20 I28 I29 I21 |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc72277&r=cwa |
| By: | Benabou, Roland (Princeton University) |
| Abstract: | This paper investigates collective denial and willful blindness in groups, organizations and markets. Agents with anticipatory preferences, linked through an interaction structure, choose how to interpret and recall public signals about future prospects. Wishful thinking (denial of bad news) is shown to be contagious when it is harmful to others, and self-limiting when it is beneficial. Similarly, with Kreps-Porteus preferences, willful blindness (information avoidance) spreads when it increases the risks borne by others. This general mechanism can generate multiple social cognitions of reality, and in hierarchies it implies that realism and delusion will trickle down from the leaders. The welfare analysis differentiates group morale from groupthink and identifies a fundamental tension in organizations' attitudes toward dissent. Contagious exuberance can also seize asset markets, generating investment frenzies and crashes. |
| Keywords: | cognitive dissonance, wishful thinking, toxic assets, financial crises, market crashes, manias speculative bubbles, market exuberance, morale, optimism, overconfidence, organizational culture, groupthink, cognitive biases anticipatory feelings, resolution of uncertainty, psychology |
| JEL: | D03 D23 D53 D83 D84 E32 G01 G14 Z1 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7322&r=cwa |
| By: | Cho, Yoon Y. (World Bank); Honorati, Maddalena (World Bank) |
| Abstract: | This paper provides a synthetic and systematic review on the effectiveness of various entrepreneurship programs in developing countries. We adopt a meta-regression analysis using 37 impact evaluation studies that were in the public domain by March 2012, and draw out several lessons on the design of the programs. We observe a wide variation in program effectiveness across different interventions depending on outcomes, types of beneficiaries, and country context. Overall, entrepreneurship programs have a positive and large impact for youth and on business knowledge and practice, but no immediate translation into business set-up and expansion or increased income. At a disaggregate level by outcome groups, providing a package of training and financing is more effective for labor activities. Additionally, financing support appears more effective for women and business training for existing entrepreneurs than other interventions to improve business performance. |
| Keywords: | meta regression analysis, entrepreneurship programs, microenterprise development, training, financing, counseling |
| JEL: | O12 O16 J24 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7333&r=cwa |
| By: | Catherine Roux; Christian Thöni |
| Abstract: | Outcomes and strategies shown in control questions prior to experimental play may provide subjects with anchors or induce experimenter demand effects. In a Cournot oligopoly experiment we explore whether control questions influence subjects' choices in initial periods and over the course of a repeated game. We vary the framing of the control question to explore the cause of potential influences. We find no evidence for an influence of the control question on choices, neither in the first period nor later in the game. |
| Keywords: | Control questions; Experimenter demand effects; Anchoring; Experimental design |
| JEL: | B41 C72 C91 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:lau:crdeep:13.03&r=cwa |
| By: | Matthieu Glachant |
| Abstract: | The objective of the paper is to lay out the state of knowledge on the role of innovation and the diffusion of technologies in the greening of global value chains as well as some of the main policy issues and key research gaps1. A special emphasis will be put on developing countries in which innovation, skills and technological absorptive capacities tend to be lower while green technologies are urgently needed. The structure of the paper is extremely simple. In a first part, we give some concepts and definitions on technology, innovation, and the channels of technology diffusion. In a second part, we use various statistics (green patents, trade flows, and foreign direct investments) and illustrative examples to describe how technology and knowledge is created today and disseminated across countries. For data reasons, we mostly focus on climate-mitigation technologies, but there are good reasons to think that other green technologies do not significantly differ from the “average” climate mitigation technology. Then, we list and discuss key policy challenges (the role of environmental policies, intellectual property rights, capacity building, etc.). The conclusion summarizes the main lessons. |
| Date: | 2013–04–11 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envddd:2013/5-en&r=cwa |
| By: | Nancy Kamp-Roelands |
| Abstract: | Green growth gains momentum, not only for governments but for companies as well. They see increasingly the opportunities that come along with ‘green growth’ as well as the relevance of mitigating environmental and social risks to which they are exposed. This paper’s central message is that high quality information is necessary to support decisions that drive green growth. |
| Date: | 2013–04–11 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envddd:2013/6-en&r=cwa |
| By: | Alexandre de Cornière |
| Abstract: | Search engines enable advertisers to target consumers based on the query they have entered. In a framework with horizontal product differentiation, imperfect product information and in which consumers incur search costs, I study a game in which advertisers have to choose a price and a set of relevant keywords. The targeting mechanism brings about three kinds of efficiency gains, namely lower search costs, better matching, and more intense product market price-competition. A monopolistic search engine charges advertisers too high a price, and has incentives to provide a suboptimal matching quality. Competition among search engines eliminates the latter distortion, but exacerbates the former. |
| Keywords: | Search engine, targeted advertising, consumer search |
| JEL: | D43 D83 L13 M37 |
| Date: | 2013–03–20 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:649&r=cwa |
| By: | Alexandre de Cornière; Romain De Nijs |
| Abstract: | An online platform makes a profit by auctioning an advertising slot that appears whenever a consumer visits its website. Several firms compete in the auction, and consumers differ in their preferences. Prior to the auction, the platform gathers data which is statistically correlated with consumers' tastes for products. We study the implications of the platform's decision to allow potential advertisers to access the data about consumers' characteristics before they bid. On top of the familiar trade-off between rent extraction and efficiency, we identify a new trade-off: the disclosure of information leads to a better matching between firms and consumers, but results in a higher equilibrum price on the product market. We find that the equilbrium price is an increasing function of the number of firms. As the number of firms becomes large, it is always profitable for the platform to disclose the information, but this need not be efficient, because of the distortion caused by the higher prices. When the quality of the match represents vertical shifts in the demand function, we provide conditions under which disclosure is optimal. |
| Keywords: | Online advertising, privacy, information disclosure, auctions |
| JEL: | D4 |
| Date: | 2013–03–22 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:650&r=cwa |
| By: | Roberto Antonietti (University of Padova) |
| Abstract: | This paper assesses the existence of knowledge externalities in the form of creative human capital spillovers that affect firm innovative performance. Relying on a large sample of Italian manufacturing firms, a knowledge production function is estimated and the residuals regressed on regional creative workforce indicators interacted with spatial agglomeration variables and measures of knowledge transmission mechanisms. The estimates show that regional density of creative human capital has a positive effect on firm innovativeness only after a critical mass is achieved and only after accounting for the presence of local universities, industrial districts and entrepreneurial activities related to knowledge-intensive services. |
| Keywords: | creative human capital; innovativeness; knowledge production function; nonlinearity JEL: L60; O31; R10; R15 |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:pad:wpaper:0159&r=cwa |
| By: | Chen, Songxi |
| Abstract: | The conventional Wilcoxon/Mann-Whitney test can be invalid for comparing treatment effects in the presence of missing values or in observational studies. This is because the missingness of the outcomes or the participation in the treatments may depend on certain pre-treatment variables. We propose an approach to adjust the Mann-Whitney test by correcting the potential bias via consistently estimating the conditional distributions of the outcomes given the pre-treatment variables. We also propose semiparametric extensions of the adjusted Mann-Whitney test which leads to dimension reduction for high dimensional covariate. A novel bootstrap procedure is devised to approximate the null distribution of the test statistics for practical implementations. Results from simulation studies and an economic observational study data analysis are presented to demonstrate the performance of the proposed approach. |
| Keywords: | Dimension reduction; Kernel smoothing; Mann-Whitney statistic; Missing outcomes;Observational studies;Selection bias. |
| JEL: | C0 C1 C2 C3 C4 C5 C6 C7 C8 C9 G0 |
| Date: | 2013–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46239&r=cwa |
| By: | David K. Levine |
| Abstract: | I discuss both the causes and consequences of the Internet being squeezed by copyright proponents. The striking fact is that while this squeeze has a broad and negative impact on society broadly, it brings very little benefit to the copyright proponents. The implication for the governance of the Internet is clear: a small minority who derive little benefit in an effort that imposes great costs on everyone else should not have a role in governance. |
| Keywords: | internet governance, copyright, piracy, downloading |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:rsc:rsceui:2013/24&r=cwa |
| By: | Tilak Abeysinghe (Department of Economics, National University of Singapore); Jiaying Gu (Department of Economics, University of Illinois at Urbana-Champaign) |
| Abstract: | Policy makers often impose some cooling measures on the housing market when housing prices rise fast. Such policies yield limited success if housing prices are driven up by fundamentals. A fundamental price trend may not necessarily be an affordable one. Unaffordable housing price trends increase the mortgage burden of households. Estimating these different price trends provides valuable information to policy makers. This paper presents an empirical methodology to separate out a housing price trend into fundamental and affordable components. The gap between actual and fundamental trend is attributed to expectations driven persistence of housing price inflation. This is the component that cooling measures are usually aimed at. Affordable housing price trend is defined in terms of a measure of lifetime income. Affordability requires the house price to lifetime income ratio to be stationary with a certain mean. Fundamentals need to be adjusted to obtain this outcome. Analyzing Singapore data using this methodology reveals some interesting observations. |
| Keywords: | Fundamental housing price, affordable housing price, lifetime income, counter-factual simulations |
| JEL: | R21 D31 |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:sca:scaewp:1301&r=cwa |
| By: | Francesco Paolo Appio (Istituto di Management - Scuola Superiore Sant’Anna, Pisa); Bart Van Looy (Faculty of Business and Economics - Katholieke Universiteit Leuven); Alberto Di Minin (Istituto di Management - Scuola Superiore Sant’Anna, Pisa) |
| Abstract: | Outlining and characterizing the antecedents of Radical Innovation is the only way to unveil the complex traits of the path to those innovations that dramatically and irreversibly alter the status quo of the economic and industrial context and structure in which they come to life. The two brief accounts presented in this paper attempt to sketch the paths characterizing both the discovery of DNA structure and the invention of DSL. By digging into the chain of historical events, we aim at understanding the role of time in nurturing ex ante radicalness, the technological combinatorial evolution unchained by different degrees of knowledge recombination, the importance of forgotten and unpublished discoveries, the influence of experimental systems in determining the course of scientific and technological developments, the role of market and technological attributes in redefining the boundaries of industries, the more than often neglected role of the personality of inventors. Accordingly, a number of propositions are advanced and implications concerning ex ante indicators building, policy and ingredients of innovative processes discussed. |
| Keywords: | antecedents of radical innovation, innovation process, knowledge recombination, socio-technical dynamics, DNA, DSL |
| Date: | 2013–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:sse:wpaper:201303&r=cwa |
| By: | Keun Lee and John Mathews |
| Abstract: | The paper argues that science, technology and innovation (STI) play a critical role in expediting transition to a sustainable mode of development. Latecomer nations suffer from several disadvantages as they attempt to catch-up with the technological leaders, but they can enjoy latecomer advantages, if appropriate strategies are formulated and executed. One of the key concepts is leapfrogging, whereby the latecomers absorb what the technological leaders have to offer and leap to a new environment-friendly techno-economic paradigm. To facilitate such leap, the current intellectual-property-rights regimes need to evolve to one that fosters technology diffusion and greater use of intellectual property. |
| Keywords: | leapfrogging, environment-friendly tech-economic paradigm, public-private partnership, Trade Related Aspects of Intellectual Property Rights |
| JEL: | L52 O32 O34 O38 O53 O55 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:une:cpaper:016&r=cwa |
| By: | Pagel, Beatrice; Wey, Christian |
| Abstract: | We re-examine the common wisdom that cross-border mergers are the most effective merger strategy for firms facing powerful unions. In contrast, we obtain a domestic merger outcome whenever firms are sufficiently heterogeneous (in terms of productive efficiency and product differentiation). A domestic merger unfolds a wage-unifying effect which limits the union's ability to extract rents. When asymmetries among fims vanish, then cross-border mergers are the unique equilibrium. However, they may be either between symmetric or asymmetric firms. Social welfare is never higher under a domestic merger outcome than under a cross-border merger outcome. -- |
| Keywords: | Unionization,International Oligopoly,Endogenous Mergers,Countervailing Power |
| JEL: | D43 J51 L13 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:89&r=cwa |
| By: | Jannika Mattes (University of Oldenburg & ZenTra) |
| Abstract: | This paper claims that internationalisation of innovation and the involved dispersal of activities in multinational companies needs to be reassessed. It is rarely a uniform phenomenon, but instead selective, sequential and temporal. The paper derives five ideal types of organising innovation in multinational companies: complete concentration, core-periphery concentration, sequential dispersal, modularised dispersal and inclusive dispersal. Empirical case studies illustrate that these different types do not only vary between projects, but are even applied selectively in different functional arenas of one and the same innovation project. This also shows that innovation is organised in a dynamic way and involves constant shifts and re-adjustments. Some general traits of different functional arenas are being derived. One of the core conclusions is that dispersed and internationalised constellations of organising innovation are applied in a far more cautious and less encompassing fashion than commonly expected. Instead, elements of control usually remain concentrated, and even seemingly dispersed settings do not imply extensive interaction and integration between the involved sites. A further result is that the organisation of innovation is not only a strategic phenomenon, but remains subject to emergent, path dependent constellations. |
| Keywords: | innovation, multinational companies, internationalisation, organisation, micro-level, innovation project, innovation process |
| JEL: | F23 O32 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:zen:wpaper:05&r=cwa |