We investigate private and social incentives for standardization to ensure market-wide system compatibility in a two …-dimensional spatial competition model. We develop a new methodology to analyze competition on a torus and show that there is a fundamental … conflict of interest between consumers and producers over the standardization decision. Consumers prefer standardization with …

This paper examines how product market competition affects firms' timing of adopting a new technology as well as … but also among markets with Cournot and Bertrand competition. More specifically, Cournot competition can lead to earlier … adoption than Bertrand competition. It shows also that competition toughness does not always reinforce adoption incentives …

through asset building. The theoretical and empirical results indicate that an increase in the initial level of competition … implies greater export incentive. However, over the life cycle of a firm, the role of competition is impacted by the intensity … of capital accumulation and the initial level of wealth. Greater local competition before the entry of firms in the …

technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …

Rethinking the foundations of Heckscher-Ohlin theory when countries have different technologies, this paper shows how …

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …