Acquisitions as a Response to Deregulation: Evidence from the Cable Television Industry

This paper studies the dynamics of an industry that is subject to exclusive geographical licensing. I develop a model of license ownership that predicts the evolution of profit-maximizing entry and acquisition decisions by firms over time, starting from an initial allocation of licenses. The entry and acquisition process is modeled as a one-sided coalition-formation game as in Farrell and Scotchmer (1988), where acquisition payoffs depend on economies of scale and agglomeration (economies of density). I estimate the model for the cable television industry in Canada using a panel that I have constructed from 1990 to 1996. The dataset builds up from the national regulator's license ownership decision files, and contains license-level information on acquisition decisions, subscribership, and subscription profits. The model is estimated in two steps. I first estimate firms' license-level profit functions, and then estimate the parameters of the fixed, merger and entry cost functions by Simulated Maximum Likelihood. Through counterfactual simulations, I use the estimated model to quantify the extent to which economies of scale and density drive acquisition behaviour, and to evaluate how merger activity reacts to a partial deregulation that occurs in 1994. Counterfactual experiments are also used to evaluate policies that stimulate entry or reduce acquisitions in the early years of the sample. The main finding is that these policies can lead to more productive dominant firms in the long-run as the industry consolidates.Acquisition, Entry, Coalition Formation, Economies of Density, Economies of Scale, Simulated Maximum Likelihood, Cable Television

Food safety through more regulation? (Pro and contra) ; pro - food legislation must be effective and efficient

Lebensmittelüberwachung, Lebensmittelforschung, Food inspection, Food research

Low carbon development, poverty reduction and innovation system building

There is an apparent contradiction between inclusive development and low carbon development, as it seems that in order to give people access to electric energy, it is necessary to employ widely used 'old' technologies, instead of investing in innovations that may be less productive at first. However, the paper defends that there are synergies between pro-poor growth and low carbon technologies. In order for poor countries to benefit from the use of such technologies, it is essential for them to build capabilities and ensure an adequate level of absorptive capacity. This involves not only market mechanisms, but also policy interventions, public and private resources, as well as an active participation of local actors. Moreover, besides investing financial resources in innovative activities for low carbon development, it is necessary to invest adequate time for the outcomes to flourish. The authors criticize the current policies for LCD in developing countries. It is argued that an exaggerated emphasis is given to the hardware element, in detriment of the software element of innovations (socio-technologies, tacit knowledge). Moreover, the mechanism of CDM is largely employed, however it places emphasis in profiting from reducing carbon emissions, and therefore is not concerned with developing local capabilities and innovation systems. The paper presents the case of the introduction and development of SHS (Solar Home Systems) market in Kenya. In short, the first PV panels were introduced by a volunteer of the Peace Corps in his private home, in 1985. He had prior working experience in the solar energy industry in the USA. After the installation of another panel in a local school, locals became interested in having the solar technology in their homes. This lead to the foundation of Energy Alternatives Africa (EAA), a company that pioneered the development of solar technologies by using resources from donor agencies. This company became an important player in the local market. It was not until recently that the Kenyan government became interested in supporting this technology

CRIBs (Climate Relevant Innovation-system Builders): a powerful new focus for international climate technology policy

This briefing suggests some key ways in which the UNFCCC architecture could be extended in order to strengthen National Systems of Innovation (NISs) to achieve more transformative rates of climate technology transfer and development via the creation of “Climate Relevant Innovation-system Builders” (CRIBs). This policy briefing builds on an invited presentation by one of the authors at a workshop on NSIs convened by the Technology Executive Committee (TEC) of the United Nations Framework Convention on Climate Change (UNFCCC). It identifies policy recommendations for consideration of the TEC. The intention is both to inform possible recommendations by the TEC to the UNFCCC Conference of the Parties (COP) and to highlight potential areas for future work that the TEC could undertake on this issue

CRIBs (Climate Relevant Innovation-system Builders): an effective way forward for international climate technology policy

National systems of innovation (NSIs) provide the context within which all processes of technology development, transfer and uptake occur - they refer to the network of actors (e.g. firms, universities, research institutes, government departments, NGOs) within which innovation occurs, and the strength and nature of the relationships between them. Nurturing NSIs in relation to climate technologies provides a powerful new focus for international policy with potential to underpin more sustained and widespread development and transfer of climate technologies. This working paper builds on an invited presentation by one of the authors at a workshop on NSIs convened by the Technology Executive Committee (TEC) of the United Nations Framework Convention on Climate Change (UNFCCC). It identifies policy recommendations for consideration of the TEC. The intention is both to inform possible recommendations by the TEC to the UNFCCC Conference of the Parties (COP) and to highlight potential areas for future work that the TEC could undertake on this issue

CRIBs (Climate Relevant Innovation-system Builders): policy recommendations on fostering national systems of innovation under the UNFCCC

National systems of innovation (NSIs) provide the context within which all processes of technology development, transfer and uptake occur - they refer to the network of actors (e.g. firms, universities, research institutes, government departments, NGOs) within which innovation occurs, and the strength and nature of the relationships between them. Nurturing NSIs in relation to climate technologies provides a powerful new focus for international policy with potential to underpin more sustained and widespread development and transfer of climate technologies. This working paper builds on an invited presentation by one of the authors at a workshop on NSIs convened by the Technology Executive Committee (TEC) of the United Nations Framework Convention on Climate Change (UNFCCC). It identifies policy recommendations for consideration of the TEC. The intention is both to inform possible recommendations by the TEC to the UNFCCC Conference of the Parties (COP) and to highlight potential areas for future work that the TEC could undertake on this issue

Low carbon energy and development in low-income countries: policy lessons from a study of the off-grid photovoltaics sector in Kenya

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Building pathways of pro-poor energy access: PV-powered electricity services in Kenya

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The science of color and color vision

A survey of color science and color vision

Objectivist reductionism

A survey of arguments for and against the view that colors are physical properties