An extensive literature discusses the existence of a virtuous circle of expectations that might lead communities to Pareto-superior states among multiple potential equilibria. It is generally accepted that such multiplicity stems fundamentally from the presence of positive agglomeration externalities. We examine a two-sector model in this class, and look for intertemporal perfect foresight equi...

Industry has been reckoned to contribute much to environmental pollution in developed countries and much research has been done to proffer technological solutions. However, until last decade the technological impact of policies aimed at promoting environmentally sustainable industrial development was virtually uninvestigated. So far, work in this area has been largely limited to developed count...

The difficulties of managing and coordinating operations as firms expand are expected to increase disproportionately with firm size. If firms face such diseconomies of managing, then acquisitions should make the combined entity more difficult to manage than the two entities operating independently. To document the existence of diseconomies of managing in acquisitions, we examine the change in c...

This paper studies how firms reorganize following diversification, proposing that firms use outsourcing, or vertical disintegration, to manage diseconomies of scope. We also consider the origins of scope diseconomies, showing how different underlying mechanisms generate contrasting predictions about the link between within-firm task heterogeneity and the incentive to outsource following diversi...

ing from distributional problems for the moment, there is little reason for treating this club good like a public good and for producing or allocating transport services according to public rules. On the other hand, the transport infrastructure is characterised by a sub-additivy of costs, and its use leads to external diseconomies. Therefore, a high level of public control is needed to prevent ...

This paper uses Data Envelopment Analysis and econometric methods to evaluate the efficiency of Turkish secondary education. It identifies scale diseconomies and relates them to the underlying structural characteristics of the system. Some ideas on improving performance are offered. The role of heterogeneity and centralization is highlighted. Heterogeneity is modeled as an undesirable measure. ...

Research Summary That capability development is subject to time compression diseconomies (TCD) well-known in the strategy literature. However, so far, there limited attention paid its origins, that is, why it exists, and demonstrating empirically. In context of fertility clinics United Kingdom, we show faster experience accumulation associated with lower success rates; results shallower learnin...

This article presents a feasibility study for retrieving Wikipedia articles matching patents’ topics. The long term motivation behind it is to facilitate patent search by enriching patent indexing with relevant keywords found in external (terminological) resources, with their monolingual synonyms and multilingual translations. The similarity between patents and Wikipedia articles is measured us...

We analyze the dynamics of a game of sequential bidding in the presence of stochastic scale effects in the form of stochastic economies or diseconomies of scale. We show that economies give rise to declining expected equilibrium prices, whereas the converse is not generally true. Moreover, first– and second–price auctions are not always revenue equivalent. Indeed, economies of scale make the se...

The two main stylized facts in the mutual fund literature are that funds exhibit little ability to persistently outperform their peers, but that new money flows into funds with the highest past returns. The traditional interpretation is that fund managers are unskilled and fund investors are unsophisticated. Berk and Green (2004) offer an alternative, arguing that more-skilled managers will man...