It is widely speculated that the adoption of a technology takes off to be self-sustaining if it reaches the critical mass. However, the sponsors of competing technologies may engage in strategic maneuvering in the adoption process. Indeed, this paper shows that in the de facto standardization...

We present a discrete-time version of an otherwise standard Schumpeterian growth model. Discrete time exhibits two important differences from continuous time. First, the probability of successful innovation cannot be homogeneous of degree one in inputs. A natural R&D analogue to constant returns...

Abstract This paper contends that the regime selection probability can provide an “empirically justifiable†alternative to the GL index as a measurement of intra-industry trade. The regime selection probability is an average of sample selection probability that each trade flow data...