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Oligopoly and Financial Structure: The Limited Liability Effect
The authors argue that product market decisions and financial structure will normally be related. Assuming an oligopoly structure in which financial decisions and output decisions follow insequence,
A &Apos;Reciprocal Dumping&Apos; Model of International Trade
This paper develops a model in which the rivalry of oligopolistic firms serves as an independent cause of international trade. The model shows how such rivalry naturally gives rise to "dumping" of
Venture‐Capital Syndication: Improved Venture Selection vs. The Value‐Added Hypothesis
Syndication arises when venture capitalists jointly invest in projects. We model and test two possible reasons for syndication: project selection, as an additional venture capitalist provides an
International R&D Rivalry and Industrial Strategy
This paper presents a theory of government intervention which provides an explanation for "industrial strategy" policies such as R&D or export subsidies in imperfectly competitive international
Strategic Trade Policy
This paper reviews the literature on strategic trade policy. Strategic trade policy is defined as trade policy that conditions or alters a strategic relationship between firms, implying that
The Simple Economics of Easter Island: A Ricardo-Malthus Model of Renewable Resource Use
This paper presents a general equilibrium model of renewable resource and population dynamics related to the Lotka-Volterra predator-prey model, with man as the predator and the resource base as the