A number of economists have argued that the literature on the irreversibility effect implies that current abatement of greenhouse gas emissions should be greater when there is the possibility of obtaining better information in the future about the potential damages from global warming than when...

A certain sequence of innovations in a vertically differentiated good is considered. Two firms are engaged in a series of bidding games to acquire the (infinitely- lived) patents to these. Managerial diseconomies restrict firms to producing a single good which is chosen optimally from the set of...

This paper uses a natural extension of Lee and Wilde's (1980) model to show that the outcome of technological competition between firms (or countries) depends on the resolution of two forces: the profit incentive and the competitive threat. Using a duopoly model of a patent race, the paper...