Suchergebnisse

We develop a two-sided matching model to analyze collaboration between heterogeneous academics and firms. We predict a positive assortative matching in terms of both scientific ability and affinity for type of research, but negative assortative in terms of ability on one side and affinity in the other. In addition, the most able and most applied academics and the most able and most basic firms shall collaborate rather than stay independent. Our predictions receive strong support from the analysis of the teams of academics and firms that propose research projects to the UK's Engineering and Physical Sciences Research Council.

International audience This paper examines the performance of the spatial arbitrages carried out between two regional markets for wholesale natural gas linked by a pipeline system. We develop a new empirical methodology to (i) detect if these markets are integrated, i.e., if all the spatial arbitrage opportunities between the two markets are being exploited, and (ii) decompose the observed spatial price differences into factors such as transportation costs, transportation bottlenecks, and the oligopolistic behavior of the arbitrageurs. Our framework incorporates a new test for the presence of market power and it is thus able to distinguish between physical and strategic behavior constraints on marginal cost pricing. We use the case of the "Interconnector" pipeline linking Belgium and the UK as an application. Our empirical findings show that all the arbitrage opportunities between the two zones are being exploited but confirm the presence of market power. ☆ This paper has greatly benefited from the judicious comments of two anonymous referees. We are also greatly indebted to Michel Le Breton, Derek Bunn and Steven Gabriel for insightful suggestions. We have also benefited from helpful discussions with Frédéric Lantz, Yves Smeers, conference participants at ISEFI (Paris, 2016) and the 9 th Conference on Energy Markets (Toulouse, 2014) and seminar participants at the universities of Cambridge, Paris-Dauphine and Grenoble. Of course, any remaining errors are ours.

This paper examines the performance of the spatial arbitrages carried out between two regional markets for wholesale natural gas linked by a pipeline system. We develop a new empirical methodology to (i) detect if these markets are integrated, i.e., if all the spatial arbitrage opportunities between the two markets are being exploited, and (ii) decompose the observed spatial price differences into factors such as transportation costs, transportation bottlenecks, and the oligopolistic behavior of the arbitrageurs. Our framework incorporates a new test for the presence of market power and it is thus able todistinguish between physical and strategic behavior constraints on marginal cost pricing. We use the case of the "Interconnector" pipeline linking Belgium and the UK as an application. Our empirical findings show that all the arbitrage opportunities between the two zones are being exploited but confirm the presence of market power.

An earlier version of this paper was circulated under the title "Commercial Incentives in Academia." We are grateful to David Pérez-Castrillo, Reinhilde Veugelers, the coeditor and two referees for valuable discussions and helpful comments. We have also benefited from the comments of seminar participants at the Universities Autonoma de Barcelona, Padova and Porto and at the JEI (Barcelona, 2006) EEA (Budapest, 2007), and ASSET (Florencia, 2008). Financial support from Ministerio de Ciencia y Tecnología (SEJ2006-00538), Consolider-Ingenio 2010 (CSD 2006-00016), Barcelona GSE Research Network and from the Government of Catalonia (2005SGR00836) is gratefully acknowledged. ; This paper proposes a framework to analyze the effects of scientific and commercial incentives in R&D organizations. We build a simple repeated model of a researcher capable of obtaining innovative ideas. Although they reduce the time spent on research, we show that commercialization incentives also affect the choice of research projects. Commercial rewards induce a more intensive search for (ex post) path-breaking innovations, which are more likely to be generated through (ex ante) riskier research programs. We derive the organization's optimal incentive scheme in terms of the researcher's characteristics. We show that organizations should use a high level of commercial incentives for scientists who have strong or weak intrinsic preferences for research. For those with strong preferences, the organization needs to induce development, whereas for those with weak ones, it needs to induce effort.

We investigate patterns in common ownership networks between firms that are active in the U.S. pharmaceutical industry for the period 2004–2014. Our main findings are that "brand firms"—that is, firms that have research and development capabilities and launch new drugs—exhibit relatively dense common ownership networks with each other that further increase significantly in density over time, whereas the network of "generic firms"—that is, firms that primarily specialize in developing and launching generic drugs—is much sparser and stays that way over the span of our sample. Finally, when considering the common ownership links between brands firms, on the one hand, and generic firms, on the other, we find that brand firms have become more connected to generic firms over time. We discuss the potential antitrust implications of these findings.

This note details two comments on a recent policy proposal in Comello and Reichelstein (2014) aimed at favouring the early adoption of Carbon Capture (CC) technology in the next generation of thermal-based power plants to be installed in the United States.

Electricity coverage in Latin America has increased substantially in recent decades, rising from 50% of the population in 1970 to more than 95% in 2015. Growth, however, slowed in the 1990s as many countries experienced difficulties in extending their networks further, in particular to serve those living in isolated and rural areas. In spite of this, the process of electrification was not interrupted and at the beginning of the 2010s decade most countries in the region were able to provide access to electricity to almost all of their populations. In this paper, we examine the main strategies used in Latin America to increase coverage and argue that only a combination of policy efforts has made it possible to achieve the current situation. We also examine the remaining obstacles, at policy and institutional levels, to achieving full coverage. ; This research has received financial support from the Spanish Ministry of Economics and Competitiveness (ECO2015-69193-R and CSO2012-39693) and the Catalan Government (SGR2009-1066). The authors are grateful for valuable feedback received from several anonymous reviewers.