• Publications
  • Influence
Preventing Zombie Lending
Because of limited liability, insolvent banks have an incentive to continue lending to insolvent borrowers, in order to hide losses and gamble for resurrection, even though this is sociallyExpand
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Strategic Online-Banking Adoption
In this paper we study the determinants of banks’ decision to adopt a transactional website for their customers. Using a panel of commercial banks in the United States for the period 2003-2006, weExpand
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Rewarding Sequential Innovators: Prizes, Patents and Buyouts
This paper presents a model of cumulative innovation where firms are heterogeneous in their research ability. We study the optimal reward policy when the quality of the ideas and their subsequentExpand
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Regulation, Corporate Social Responsibility and Activism
This paper analyzes the interplay between firms' self-regulation (often denoted as corporate social responsibility) as opposed to the formal regulation of a negative externality. Firms respond toExpand
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Patent Litigation When Innovation is Cumulative
This paper studies the effect of litigation as a way to enforce patents when firms hold private information. A structure to the legal system is provided, allowing a better understanding of theExpand
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R&D in the Pharmaceutical Industry: A World of Small Innovations
TLDR
In this paper we show that the proliferation of these small innovations is likely to be linked to the lack of market sensitivity of a part of the demand to changes in prices. Expand
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Moving beyond simple examples: Assessing the incremental value rule within standards☆
TLDR
This paper presents a model of patent licensing in a standard setting context when patented technologies are heterogeneous in multiple dimensions and not simply one-dimensional cost-savings. Expand
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Conventional Power Plants in Liberalized Electricity Markets with Renewable Entry
This paper examines the optimal capacity choices of conventional power generators after the introduction of renewable production. We start with a basic and generally accepted model of the liberalizedExpand
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Patent Licensing in Vertically Disaggregated Industries: The Royalty Allocation Neutrality Principle
This paper investigates patent licensing in vertically disaggregated industries, where patent holders may license to upstream producers only, downstream producers only, or to both upstream andExpand
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Advertising and Consumer Awareness of New, Differentiated Products
This article proposes a novel approach to assess the dynamic effect that advertising expenditures have on which products consumers include in their choice sets. In a discrete-choice model, consumersExpand
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