Sex differentials in the earnings of Ph.D.s.

Using a survey of two cohorts of men and women who received Ph.D.s in the years 1958-63 and 1967-72, the authors test two hypotheses: (1) that the relatively lower earnings of highly educated women can be explained largely by their career interruptions and by their lesser willingness to accumulate human capital in anticipation of such interruptions, and (2) that the differential in earnings between men and women increases with age because of career interruptions and that the gap narrows once women reenter the labor force on a permanent basis The findings do not lend support to either of these hypotheses, leading the authors to reject the proposition that the lower rewards of women Ph.D.s are primarily caused by their own voluntary decisions.     

Enriching interactions: Incorporating outcome data into static discrete games

When modeling the behavior of firms, marketers and micro-economists routinely confront complex problems of strategic interaction. In competitive environments, firms make strategic decisions that not only depend on the features of the market, but also on their beliefs regarding the reactions of their rivals. Structurally modeling these interactions requires formulating and estimating a discrete game, a task which, until recently, was considered intractable. Fortunately, two-step estimation methods have cracked the problem, fueling a growing literature in both marketing and economics that tackles a host of issues from the optimal design of ATM networks to the choice of pricing strategy. However, most existing methods have focused on only the discrete choice of actions, ignoring a wealth of information contained in post-choice outcome data and severely limiting the scope for performing informative counterfactuals or identifying the deep structural parameters that drive strategic decisions. The goal of this paper is to provide a method for incorporating post-choice outcome data into static discrete games of incomplete information. In particular, our estimation approach adds a selection correction to the two-step games approach, allowing the researcher to use revenue data, for example, to recover the costs associated with alternative actions. Alternatively, a researcher might use R&D expenses to back out the returns to innovation.     

Voor- of achteruitgang?

Ohne Zusammenfassung     

Liberalization and the growth of business‐led R&D: the case of India

Firms and organizations in India have responded to market reforms, liberalization and globalization by improving efficiency, importing technology and by increasing in‐house R&D. This paper highlights some of the evolutionary changes that have occurred since India undertook sweeping reforms in July 1991 to open its economy to foreign participation and competition. Although some authors, such as Forbes (1999), have looked at the impact of the liberalization on India's R&D and innovation, they missed a number of dimensions that have far‐reaching implications for the process of technological capability development in India. Using the concept of technological capability, this paper makes a contribution to the discourse on the changing R&D and innovation scenario in the face of on‐going liberalization in India. It concludes with three case studies, which illustrate some of the recent changes made by industrial organisations.