Learning – i.e. the acquisition of new information that leads to changes in our assessment of uncertainty – plays a prominent role in the international climate policy debate. For example, the view that we should postpone actions until we know more continues to be influential. The latest work...

This article analyzes the "escape from competition effect" in a step-by-step framework in which a succesful firm may either leapfrog the previous leader or catch-up its technology. Innovation and growth are affected by both the intensity of competition and the probability of leapfrogging.

This article analyzes the "escape from competition effect" in a step-by-step framework in which a succesful firm may either leapfrog the previous leader or catch-up its technology. Innovation and growth are affected by both the intensity of competition and the probability of leapfrogging.