Search results for " spillovers"
showing 10 items of 28 documents
A Further Note on Endogenous Spillovers in a Non-tournament R&D Duopoly
2008
This note considers the paper of Poyago-Theotoky (1999) on strategic R&D with endogenous spillovers. It proves through an example that, under R&D collusion, optimality sometimes requires either minimal or asymmetric spillovers. It also provides a simple sufficient condition for optimal spillovers between colluding firms to involve maximal spillovers (i.e., complete sharing of information).
Endogenous R&D Symmetry in Linear Duopoly with One-way Spillovers
2005
A duopoly model of cost reducing R&D-Cournot market competition is extended to encompass endogenous timing of R&D investments. Under the assumption that R&D spillovers are zero under simultaneous choices of R&D and only flow from the R&D leader to the follower under sequential choices, sequential and simultaneous play at the R&D stage are compared in order to assess the role of technological externalities in stimulating or attenuating endogenous firm asymmetry. The only timing structure of the R&D stage sustainable as subgame–perfect Nash equilibrium involves simultaneous play and thus zero spillovers.
Endogenous asymmetry and cooperative R&D in linear duopoly with spillovers
2009
In a standard model of R&D followed by linear Cournot competition, firm asymmetry is sustainable as equilibrium with non cooperative R&D if and only if the productivity of research is sufficiently large relative to the benefits of imitation. Increasing spillovers distribute R&D results among asymmetric competitors, causing price, firm asymmetry, and joint profit to reduce. With zero spillovers, a symmetric joint lab dominates asymmetric R&D competition in terms of social welfare and consumer surplus, but is sometimes dominated in terms of joint profit. Raising spillovers encourage symmetric collusion but makes the latter potentially harmful to consumers. (JEL : C72; L13; O32).
Risk aversion connectedness in five European countries
2018
Abstract In this paper we compute an aggregate index of risk aversion and indices of vulnerability and the contribution to systemic risk aversion for five European countries. The variance risk premium proxies risk aversion. The contribution to the literature is twofold. First, this is the first study estimating not only the common component, but also indices of directional connectedness among variance risk premia. Second, it is the first to estimate the interconnections by means of a FIVAR model, in order to account for long memory. Our analysis indicates measures of total and directional connectedness unlike those that would be obtained with the use of a short memory VAR. These differences…
Environmental spillovers and their impacts on housing prices: A spatial hedonic analysis
2015
This paper investigates the spatial dimension of environmental factors on housing prices. We develop spatial hedonic models to estimate the implicit prices of various environmental attributes. The spatial dimension can be interpreted in terms of local or global spillovers. We conduct an empirical study in the Loire estuary (France). We focus on natural areas and more artificialized ones (ocean frontage, wetlands, rivers, and noisy roads). We show that, depending on the spatial model used, the implicit price is more than just the estimated coefficient value and combines both a feedback effect and a propagation effect.
Disease dispersion as a spatial interaction: The case of Flavescence Dorée
2020
International audience; Flavescence dorée is a serious and incurable vine disease transmitted by an insect vector. Focusing on its spatial diffusion and on its control with pesticides, this paper investigates the private strategies of wine producers and their socially optimal counterparts. The socially optimal regulation has to address two externalities regarding private treatment decisions: (a) the insufficient consideration of collective benefits from controlling the vector populations; (b) the failure to take into account environmental damage related to pesticide application. The probability of infection is estimated on French data from a spatial econometric specification. Three alternat…
“I want creative neighbours”. Do creative service industries spillovers cross regional boundaries?
2014
The occurrence of creative service industries (CSI) is a strong determinant of differences in wealth amongst European regions. However, it is unknown if the strong effects are limited to occurring within regional boundaries or whether there are spillover effects into neighbouring regions. The purpose of this paper is to assess the existence of CSI spillover effects on the wealth of neighbouring regions. CSI and spillovers are integrated into both an empirical model and an endogenous growth model. Both models are estimated for a sample of 250 regions in the European Union in 2008. We find that most of the effects of CSI take place within regions, although there is also evidence that CSI has …
Disparités géographiques et convergence des régions européennes : une approche par l'économétrie spatiale
2002
The aim of this dissertation is to analyze the convergence process between European regions by taking into account spatial patterns of economic activities. First, with the help of literature reviews on theoretical and empirical analyses of growth and convergence and on economic geography models, we show in chapter 1 why geographic disparities should be introduced in the study of convergence between economies. Next, the spatial statistic and econometric tools allowing to reach this goal are detailed in chapter 2. Finally, three empirical studies of the convergence process in presence of geographic disparities are carried out. They are based on a sample for per capita GDP of 138 regions, belo…
Effects of ICT Connectedness, Permeability, Flexibility, and Negative Spillovers on Burnout and Job and Family Satisfaction
2011
This study investigates the effects of information and communication technologies (ICTs), permeability, flexibility, and spillovers of work into home and home into work on job burnout and job and family satisfaction. Results from a random sample of 612 office workers show that individuals who reported being satisfied with their jobs tended to feel that the Internet could help them accomplish work-related tasks, that traditional media could help them relax after work, and had a highly permeable boundary between their home domain and a highly flexible work environment. On the other hand, people who experienced low job satisfaction faced high work spillovers into home life and high burnout. Th…
Economic analysis of the international cooperation to face global environmental problems
2013
Because of the doubts about the effectiveness of the Kyoto Protocol, several scholars have asked whether other types of agreements can be designed to achieve large reductions of GHG emissions. Designing a profitable and stable international environmental agreement (IEA) that deals with the shortcomings of Kyoto-type agreement is the main motivation of this work. One idea would be to focus on technology improvements in order to reduce abatement costs, as this might increase a country's willingness to undertake significant emission reductions. For example, it could be beneficial to supplement a Kyoto-type agreement with technology elements if technological development depends not only on a co…