Achintya Ray's research while affiliated with Tennessee State University and other places
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Publications (11)
We show the effects of entry of a new firm on the profits and welfare when the firms share the same initial cost of production but differ in terms of the costs of undertaking R&D. Considering a Cournot oligopoly model with innovation and linear demand and production costs, we show that entry reduces the profits of the incumbent firms and it can be...
We show that uncertainty in patent approvals may induce the firms to do cooperative R&D. With an exogenous probability of
success in patent application, we show that, if all firms apply for patents under non-cooperative R&D, the firms prefer cooperative
R&D than non-cooperative R&D for moderate (high) probabilities of success in patent applications...
In this paper we explore the long term movement in the housing prices in select American cities. Using the monthly S&P/Case-Shiller Home Price Indices, we look at the stability of housing prices in 14 selected large American cities. We undertake the ADF (GLS) unit root test for the index in each city and find the optimal lag requirement for achievi...
Is healthcare a luxury? An answer to this question in the health economics literature mostly relied on the use of the level of healthcare spending as the explained variable. But by using the level of healthcare spending as the dependent variable, we may fail to identify pure income effects and therefore, may not be able to estimate the income elast...
We consider the effects of product and process patents on profits and welfare. In a duopoly model, we show that if the cost of imitation is not very large, prisoner's dilemma occurs under process patent, thus creating lower profit of each firm under process patent than under product patent. Welfare is higher under process (product) patent for very...
In this paper, we compare health outcomes in cities of different sizes. Using 2001 National Health Interview Survey data for adult urban-US population, it is shown that individual health is better in bigger cities compared to small or medium sized ones. This result holds after controlling for potentially confounding variables including age, gender,...
It has been argued that a monopolist input supplier may find it profitable to create an outside source for its input if it reduces product price and attracts buyers ( , pp. 673-694). We consider a monopolist input supplier's incentive for outsourcing and R&D. We show that even if outsourcing can attract new buyers, it is not beneficial to the input...
This paper proposes a class of decomposable poverty measures. It incorporates ideas of flexible minimum basic requirement norms, relative deprivation and the presence of public transfer systems. Public transfers oftentimes take the form of implicit transfers and are not usually reflected in the reported income figures. Depending on the access and u...
In this paper we model labor force participation of women in the context of a two- person (husband and wife) household. The decision making happens through an intra- household bargaining process. We show that (1) labor force participation of women is increasing in market wages, and (2) very high market wages may lead to a reduction in women's effor...
This paper studies the capital formation in the Indian Economy over a 34 year period between 1970 and 2004. Three measures of capital formation including Gross Fixed Capital Formation, Gross Domestic Capital Formation, and Net Domestic Capital Formation are studied. Special attention is paid towards any potential impact of economic liberalization o...
Citations
... The accumulation of physical capital, commonly called investment, is an essential determinant of economic growth in both neoclassical and endogenous From Humble Beginnings to a Global Economic Powerhouse growth models, with robust empirical support (Abou and Kheir, 2009;Fowowe, 2008). Over the past few years, many empirical studies have investigated the relationship between export growth and output in India, employing various methods such as co-integration, error correction modeling, and Granger causality analysis Giri and Mohapatra, 2022;Gupta et al., 2022;Xu and Pal, 2022;Devi, 2013;Kaur and Sidhu, 2012;Ray, 2007). These studies have concluded that exports are a critical contributor to India's growth. ...
... 3 Therefore, this paper in a practical sense characterizes the effects of chain stores' market entry on local communities (i.e., local retailers and consumers), 1 In operations, marketing and industrial economics literature, in the absence of vertical relationships , there are also arguments for profit raising entry. Under particular demand and cost conditions, the profit raising entry is shown to occur: when there is Stackelberg competition among cost-asymmetric firms [27,28] ; in the context of the vertical structure of products and consumers [3,7,10,17,35] ; when firms invest in such non-production activities as R&D [18,26] ; and when production technology licensing elicits the licensee's market entry [5] . ...
... It also implies that public participation in the provision of the basic health care is highly justified. Moreover, if health care is a luxury good in a country, it has some implications for the health insurance industry, e.g., whether the health insurers should provide coverage for only basic and necessary bundle of health services [27]. ...
... The original CS data use January 2000 as the base year and therefore all house price indices are 100 in that period. However, Ray and Ray (2009) mistakenly interpret this as evidence of house price convergence. setting log P it = log(P it /P i1 ), and discard some fraction of sample from the beginning to eliminate initial effects created by the base year initialization as suggested by Phillips and Sul (2007). ...
... In another paper, Mukherjee and Ray (2006) compare the welfare effects of product and process patents in presence of compulsory licensing. They consider an economy with a single innovator, who wants to sell its product in a foreign market, where the innovator faces the threat of imitation from a host country firm. ...
... But when both the firms are successful, we assume that each firm will get patent protection with probability ½. This partly takes care of the fact that getting a patent protection may sometimes be uncertain (Mukherjee and Ray 2009). Assuming drastic innovation along with patent protection, the expected payoff under cooperative R&D will be as usual given by (1), but the expression of the expected payoff under non-cooperative R&D will be accordingly modified to get: ...
... Without innovation, the marginal cost of production is c [ [0, 1/2]. 2 In the case of innovation, the marginal cost falls to c − x, where x [ [0, c]. 3 We assume the following quadratic R&D cost function: vx 2 , which implies that when is v high (low), the R&D efficiency is low (high) (see, for example, Lin and Saggi 2002). We assume a linear demand function with differentiated products (Singh and Vives 1984), such that the demand for Firm j = 1, 2 is: p j = 1 − q j − gq i=j , where g [ [0, 1] is a measure of product substitutability: when g is high, the products are highly substitutable, and vice-versa (see for example Mukherjee and Ray 2007). The timing of the game is the following. ...
Reference: Does licensing promote innovation?
... Our paper is closely related to the limited literature that examines both horizontal and vertical licensing in vertically related markets. This literature shows that downstream horizontal licensing is profitable if it enhances competition in the upstream and the downstream market (Mukherjee 2003;Mukherjee and Ray 2007) or if it creates a weak rival (Arya and Mittendorf 2006). Moreover, vertical licensing can create a seller-buyer relationship among the licensor and the licensee that can be profitable if it intensifies downstream competition (Rey and Salant 2012;Bakaouka and Milliou 2018), but it may also be welfare reducing (Lin et al. 2022). ...
... Few scholars described poverty as spanning along the continuum of acute or chronic (Jalan and Ravallion 2000;Dzanku 2015) or countryside or urban (Appleton et al. 2010;Olivia et al. 2011;Dzanku 2015). Yet others defined it under two terms absolute and relative (Ray 2006;Chen and Ravallion 2013). ...
... In general, lack of exercise and high calorie consumption is known to lead to obesity, which may result in chronic diseases; therefore the number of deaths caused by chronic diseases in a prefecture can be regarded as a proxy for the regional health status (Ministry of Health, Labor and Welfare, 2004, Costa-Font and Gil, 2005). Ray and Ghosh (2007) shed light on the relation between city size and health in the USA. Careful attention is required when considering the impact of city size and population density. ...
