This paper models the international competition between a domestic firm and its vertically integrated foreign rival …

aftermarkets? In this paper we explore a number of models characterized by either competition or monopoly in the new-unit market …, and show that a variety of behaviors that hurt competition in aftermarkets can, in fact, be efficient responses to …

investment. We distinguish free generic technology from proprietary technologies resulting from risky investment with uncertain … technology cannot be compared to its own direct investment costs. Eureka moments are hardly ever self-enabling and incentives are … required to motivate investment attempting to turn them into an innovation. The alternative to a valuable proprietary …

absolute margin. We derive these results in both a monopoly model and a variety of different competitive models. We conclude …

In this paper we study "investment tournaments," a class of decision problems that involve gradual allocation of … investment among several alternatives whose values are subject to exogenous shocks. The decision-maker's payoff is determined by … an early stage of the tournament in a bid to capture a larger share of employer's investment, such as mentoring …

establish a causal relationship between competition and investment. Within manufacturing, we show that industry leaders invest … competition is partly responsible for this phenomenon. We use a combination of natural experiments and instrumental variables to … and innovate more in response to exogenous changes in Chinese competition. Beyond manufacturing we show that excess entry …