Many markets are characterized by a fundamental informational asymmetry: the seller of a product knows better its quality than the buyer. Also in many markets, the seller cannot credibly communicate the quality…

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Adopting a dynamic perspective, this paper investigates age-related staffing patterns in German establishments and their effect on innovative performance. First, we investigate how establishments achieve the…

It is well-known that R&D and innovation investments by the private sector suffer from market failure and thus the investment level in the economy is below the social desirable level. It is also a well-known…