1,594 research outputs found
Innovation and productivity of Dutch firms: A panel data analysis
No full textThis paper uses an extended version of the well-established Crépon, Duguet and Mairesse model (1998, CDM hereafter) to model empirically the innovation-productivity relationship using data on patent applications by Dutch firms to the European Patent Office.
We use an extended version of the well-established Crepon, Duguet and Mairesse model (1998, CDM hereafter) to model empirically the innovation-productivity relationship using data for the 2000-2006 period on patent applications by Dutch firms to the European Patent Office. The CDM model disentangles the impact of R&D expenditures on patents and the impact of patents on productivity. A multiple-equation dynamic panel data model of R&D, patent applications or citations and multi-factor productivity (MFP) growth is estimated that suits multiple data distribution properties. We explicitly take into account the role of dynamics and firm-level unobserved heterogeneity in each of the innovation processes and productivity. We find evidence that the output innovation affects productivity positively, which seems to be robust across specifications. We also find that the strong presence of random effects for individual heterogeneity in explaining the R&D patents relationship is an important driver to innovation. While the estimates of R&D and dynamics depend on whether these unobserved characteristics are taken into account, we find robust evidence on the role of firm size in explaining patent and citation counts.We gratefully acknowledge support from the Netherlands Organization for Scientific Research (NWO) under their research program “Dynamism of Innovation” and the Research Foundation of Flanders (FWO) for a travel grant
Innovation and productivity of Dutch firms: A panel data analysis
No full textThis paper uses an extended version of the well-established Crépon, Duguet and Mairesse model (1998, CDM hereafter) to model empirically the innovation-productivity relationship using data on patent applications by Dutch firms to the European Patent Office.
We use an extended version of the well-established Crepon, Duguet and Mairesse model (1998, CDM hereafter) to model empirically the innovation-productivity relationship using data for the 2000-2006 period on patent applications by Dutch firms to the European Patent Office. The CDM model disentangles the impact of R&D expenditures on patents and the impact of patents on productivity. A multiple-equation dynamic panel data model of R&D, patent applications or citations and multi-factor productivity (MFP) growth is estimated that suits multiple data distribution properties. We explicitly take into account the role of dynamics and firm-level unobserved heterogeneity in each of the innovation processes and productivity. We find evidence that the output innovation affects productivity positively, which seems to be robust across specifications. We also find that the strong presence of random effects for individual heterogeneity in explaining the R&D patents relationship is an important driver to innovation. While the estimates of R&D and dynamics depend on whether these unobserved characteristics are taken into account, we find robust evidence on the role of firm size in explaining patent and citation counts.We gratefully acknowledge support from the Netherlands Organization for Scientific Research (NWO) under their research program “Dynamism of Innovation” and the Research Foundation of Flanders (FWO) for a travel grant
Some forgotten equilibria of the Bertrand duopoly!?
Full text linkThis note analyzes the Bertrand duopoly with constant but asymmetric marginal costs on a market with homogenous products. It is shown that there exist some equilibria that are ignored in the literature on IO. In addition, in this setting (perfectly or nearly perfectly) competitive equilibria exist.
Global Warming and Local Dimming: The Statistical Evidence
Full text linkTwo effects largely determine global warming: the well-known greenhouse effect and the less well-known solar radiation effect. An increase in concentrations of carbon dioxide and other greenhouse gases contributes to global warming: the greenhouse effect. In addition, small particles, called aerosols, reflect and absorb sunlight in the atmosphere. More pollution causes an increase in aerosols, so that less sunlight reaches the Earth (global dimming). Despite its name, global dimming is primarily a local (or regional) effect. Because of the dimming the Earth becomes cooler: the solar radiation effect. Global warming thus consists of two components: the (global) greenhouse effect and the (local) solar radiation effect, which work in opposite directions. Only the sum of the greenhouse effect and the solar radiation effect is observed, not the two effects separately. Our purpose is to identify the two effects. This is important, because the existence of the solar radiation effect obscures the magnitude of the greenhouse effect. We propose a simple climate model with a small number of parameters. We gather data from a large number of weather stations around the world for the period 1959–2002. We then estimate the parameters using dynamic panel data methods, and quantify the parameter uncertainty. Next, we decompose the estimated temperature change of 0.73ºC (averaged over the weather stations) into a greenhouse effect of 1.87ºC, a solar radiation effect of −1.09ºC, and a small remainder term. Finally, we subject our findings to extensive sensitivity analyses
Heterogeneous Behavioral Rules in the Oligopolistic Case
Full text linkIn a static symmetric duopoly the set of behavioral rules is extended to different types of markup pricing. Using an equilibrium concept suggested in Pasche (2001), it is shown that dependend on the markup neither pure Cournot nor pure Bertrand behavior is a behavioral equilibrium profile. Instead, there is a rationale for the usage of simple heuristics. The presence of markup rules leads to Stackelberg outcomes. Furthermore, pure markup behavior is more competitive than in Cournot case but less competitive than in Bertrand case. It is shown, that multiple behavioral equilibria and heterogeneous behavior may arise, where at least one player uses price setting strategies.oligopoly, markup rules, heterogeneity, behavioral equilibrium.
A Bertrand-Edgeworth-oligopóliumok (Bertrand-Edgeworth oligopolies – a survey of the literature)
No full textAz irodalomban az olyan oligopolmodellek, amelyekben mind az ár, mind a mennyiség döntési változó, Bertrand-Edgeworth-oligopóliumok néven ismertek. E tanulmányban a Bertrand-Edgeworth-oligopóliumokkal kapcsolatos érdekesebb eredményeket tekintjük át. Tárgyaljuk a Bertrand-Edgeworth-típusú oligopolmodellek specifikációját, a Nash-egyensúly létezését, a Nash-egyensúly meghatározását és a Bertrand-Edgeworth-oligopóliumok alkalmazásait. / === / Oligopoly models in which both price and quantity are decisive variables are known in the literature as Bertrand-Edgeworth oligopolies, the most interesting results with which are surveyed in this paper. The author assumes the existence of the Nash equilibrium, as the specification of Bertrand-Edgeworth-type oligopoly models, the determination of the Nash equilibrium, and the application of Bertrand-Edgeworth oligopolies
Data used for the spatio-temporal analysis of the climatic debt observed in understory plant communities
No full textDetails about the variables' computation and definition are provided in Bertrand 2018 and Bertrand et al. 2016. References: Bertrand, R.et al. (2016) Ecological constraints increase the climatic debt in forests. Nature communications 7: 12643. Bertrand, R. (2018) Unequal contributions of species’ persistence and migration on plant communities’ response to climate warming throughout forests. Ecography. Accepted Author Manuscript
Le origini del liberalsocialismo di Bertrand Russell
No full textIl saggio prende in esame le origini del liberalsocialismo di Bertrand Russell. Afferma che tutte le tesi maggiori dell'autore inglese sono presenti nelle prime opere politiche che pubblica.The essay deals with the origins of the liberal socialism of Bertrand Russell. The thesis is that all major ideas of the english author are present in first political books he publish
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