Suchergebnisse

This comment indicates that the derivation of the fixed fee for licensing both firms in Kabiraj (The Manchester School, Vol. 72 (2004), pp. 188–205) uses a different definition from that in Kamien and Tauman (Quarterly Journal of Economics, Vol. 101 (1986), pp. 471–491) and Kamien et al. (Journal of Mathematical Economics, Vol. 21 (1992), pp. 483–508). It not only points out that this different definition is not reasonable, but also yields interesting new findings that are qualitatively different from those reported in Kabiraj (2004).

AbstractThis paper constructs a two‐country trade model to examine the optimal policies relating to the export of final and intermediate products under Cournot as well as Bertrand competition when firms engage in symbiotic production internationally. The paper shows that given linear demand for the final product, the optimal export policies are to tax the exports of both the final and intermediate goods under symbiotic production, regardless of whether firms engage in Cournot or Bertrand competition in the final good market, which is contrary to the conventional wisdom.

Tech clusters play a growing role in knowledge-based economies by accommodating high-tech firms and providing an environment that fosters location-dependent knowledge spillovers and promote R&D investments by .rms. Yet, not much is known about the economic conditions under which such entities may form in equilibrium without government interventions. This paper develops a spatial equilibrium model with a competitive final sector and a monopolistically competitive intermediate sector, which allows us to determine necessary and sufficient conditions for a tech cluster to emerge as an equilibrium outcome. We show that strongly localized knowledge spillovers, skilled labor abundance, and low commuting costs are key drivers for a tech cluster to form. Not only is the productivity of the final sector higher when intermediate firms cluster, but a tech cluster hosts more intermediate firms and more R&D and production activities, and yields greater worker welfare, compared to what a dispersed pattern would generate. With continual improvements in infrastructure and communication technology that lowers coordination costs, tech clusters will eventually be fragmented.