Bertrand Competition with an Asymmetric No-discrimination Constraint. Bruges European Economic Research (BEER) 23/June 2012

Regulators and competition authorities often prevent firms with significant market power or dominant firms from practicing price discrimination. The goal of such an asymmetric no- discrimination constraint is to encourage entry and serve consumers’ interests. This constraint prohibits the firm with significant market power to practice both behaviour-based price discrimination within the competitive segment and third-degree price discrimination across the monopolistic and competitive segments. We find that this constraint hinders entry and reduces welfare when the monopolistic segment is small.

The Economics of Subsidies for R&D: The Intrinsic Difficulty of Determining Optimum Subsidies and Implications for Reform of EU State Aid Rules on R&D. Bruges European Economic Research (BEER) Papers 26/February 2013

The European Commission is reforming state aid rules. An important element of the reform is to prevent the granting of excessive subsidies. This paper shows that the determination of the optimum subsidy for research is difficult. What appears to be the socially optimum level of research effort depends on the benchmark of comparison and whether this benchmark is the situation before subsidies or the situation after subsidies. In the presence of asymmetric information, policy makers should induce firms to reveal their true costs and should grant subsidies to the relatively more efficient firms by allocating subsidies not on a first-come-first- serve basis but through a competitive process. However, competitive selection of subsidy recipients is not a panacea as it may not be possible to be effectively used in all cases and for all research programmes. This is because in principle public subsidies should support those programmes with the largest value for society, rather than with the lowest costs. Although this paper focuses on R&D, its findings are relevant to any subsidy whose aim is to remedy market failure caused by positive externalities.

Russia and its Near Neighborhood: Competition and Conflict within the EU. Natolin Research Paper 04/May 2011

Russia in 2004 politely rejected the offer to become a participant in the European Neighbourhood Policy, preferring instead to pursue bilateral relations with the EU under the heading of ‘strategic partnership’. Five years later, its officials first reacted with concern to the ENP’s eastern dimension, the Eastern Partnership initiative. Quickly, however, having become convinced that the project would not amount to much, their concern gave way to indifference and derision. Furthermore, Russian representatives have failed to support idealistic or romantic notions of commonality in the area between Russia and the EU, shunned the terminology of ‘common European neighbourhood’ and replaced it in EU-Russian documents with the bland reference to ‘regions adjacent to the EU and Russian borders’. Internally, the term of the ‘near abroad’ was the official designation of the area in the Yeltsin era, and unofficially it is still in use today. As the terminological contortions suggest, Moscow officials consider the EU’s eastern neighbours as part of a Russian sphere of influence and interest. Assurances to the contrary notwithstanding, they look at the EU-Russia relationship as a ‘zero-sum game’ in which the gain of one party is the loss of the other. EU attempts to persuade the Russian power elite to regard cooperation in the common neighbourhood not as a competitive game but providing ‘win-win’ opportunities have been to no avail. In fact, conceptual approaches and practical policies conducted vis-à-vis the three Western CIS countries (Belarus, Ukraine and Moldova) and the southern Caucasus (Georgia, Armenia and Azerbaijan) confirm that, from Moscow’s perspective, processes of democratisation, liberalisation and integration with Western institutions in that region are contrary to Russian interests. In each and every case, therefore, the area’s ‘frozen conflicts’ have not been regarded by the Kremlin as an opportunity to promote stability and prosperity in the countries concerned but as an instrument to prevent European choices in their domestic and foreign policy. The current ‘reset’ in Russia’s relations with the United States and the ‘modernisation partnership’ with the EU have as yet failed to produce an impact on Russia’s policies in ‘its’ neighbourhood. The EU is nevertheless well advised to maintain its course of attempting to engage that country constructively, including in the common neighbourhood. However, its leverage is small. For any reorientation to occur in Moscow towards perceptions and policies of mutual benefit in the region, much would depend on Russia’s internal development.

The European Pharmaceutical Industry in a Global Economy: what drives EU exports of pharmaceuticals?. Bruges European Economic Research Papers (BEER) 31/2015.

The pharmaceutical industry is one of the most competitive sectors in the European Union. With its substantial investments in research and development, this industry represents a key asset for the European economy and a major source of growth and employment. However, despite the importance of the pharmaceutical sector for the European Union, few researchers have attempted to assess the determinants of the EU exports of pharmaceuticals. This paper aims at filling the aforementioned gap by examining what drives EU exports of pharmaceuticals. In order to tackle this question, this paper has derived hypotheses from the Gravity Model of Trade and the relevant academic literature on pharmaceuticals. Based on an econometric analysis, the research sheds light on the complex interaction of factors influencing the EU exports of pharmaceuticals. The paper finds that the protection of intellectual property in the receiving countries, their economic size, the importance of their health sector, and the quality of infrastructures constitute major drivers to the EU exports of pharmaceuticals. On the contrary, the research shows that transports costs as well as tariff barriers and non-tariff barriers tend to hinder the EU exports of pharmaceuticals.

What drives the European Parliament? The Case of the General Data Protection Regulation. Bruges Political Research Papers 47/2015.

This paper evaluates which factors influence the European Parliament’s decision-making, based on a case study: the 2012 proposal for a General Data Protection Regulation. Following a ‘competitive testing’ approach, six different hypotheses are successively challenged in order to explain why the EP adopted a fundamental rights- oriented position. The first three factors relate to the internal organization of the EP’s work, i.e. the role played by the lead committee, by the rapporteur and by secretariat officials. The last three factors are external-related, i.e. lobbying activities, outside events and institutional considerations. Based on the empirical findings, it is argued that even though the EP’s position is due to a range of various factors, some of them prove to be more relevant than others, in particular the rapporteur and lead committee’s roles. New institutionalism theories also provide a comprehensive explanation for the EP’s willingness to achieve a fundamental rights oriented outcome.

The Business Models and Economics of Peer-to-Peer lending. ECRI Research Report No 17, May 2016

This paper reviews peer-to-peer (P2P) lending, its development in the UK and other countries, and assesses the business and economic policy issues surrounding this new form of intermediation. P2P platform technology allows direct matching of borrowers’ and lenders’ diversification over a large number of borrowers without the loans having to be held on an intermediary balance sheet. P2P lending has developed rapidly in both the US and the UK, but it still represents a small fraction, less than 1%, of the stock of bank lending. In the UK – but not elsewhere – it is an important source of loans for smaller companies. We argue that P2P lending is fundamentally complementary to, and not competitive with, conventional banking. We therefore expect banks to adapt to the emergence of P2P lending, either by cooperating closely with third-party P2P lending platforms or offering their own proprietary platforms. We also argue that the full development of the sector requires much further work addressing the risks and business and regulatory issues in P2P lending, including risk communication, orderly resolution of platform failure, control of liquidity risks and minimisation of fraud, security and operational risks. This will depend on developing reliable business processes, the promotion to the full extent possible of transparency and standardisation and appropriate regulation that serves the needs of customers.

State funding of alcohol safety countermeasure programs. Final report.

National Highway Traffic Safety Administration, Traffic Safety Programs, Washington, D.C.

2001, a space reality strategies for obtaining funding for new library space /

"February 1994."

University funding: information on the role of peer review at NSF and NIH.

Mode of access: Internet.

Funding for the John F. Kennedy Center [microform] : hearing before the Committee on Environment and Public Works, United States Senate, Ninety-sixth Congress, first session, on S. 1532 ... July 20, 1979.

Reuse of record except for individual research requires license from Congressional Information Service, Inc.

Small business guide to federal R&D funding opportunities /

"March 1986."

Federal r&d funding for energy : fiscal years 1971-84.

Mode of access: Internet.

Development of procedures for assessing the impact of vocational education research and development on vocational education (Project IMPACT).

Funding agreement no.: R-31-20-X-0141-166.

Innovative chemical supply contracts : a source of competitive advantage /

"September 1997."

Manufacturer networks as a competitive strategy.

"September 1991."