This research analyzes a firm’s timing of bringing a new product to the market, based on a product-innovation timing game in which the quality of a new product increases over time . We explore the equilibrium outcomes when both firms can precommit to their timing of market entry (the so-called...

Literature argues that the source of growth for high-tech industries emanates from technological progress, while that for low-tech industries comes from technical efficiency improvement. Also, some empirical studies have shown that technological progress is often accompanied by deterioration in...

A new demand system, combining the quadratic almost ideal demand system and the Fourier expenditure system, is introduced. An application for meat consumption in Taiwan indicates that the new demand system fits the data well and that the restriction to the usual specifications, such as locally...

This study explores how seller reputations affect auction prices, and concludes that earlier findings may be biased due to the misspecification of seller reputation. This paper contributes to the literature by offering significant empirical evidence using Taiwanese Internet auction data. Our...