carry out experiments for two-stage games, where R&D investment choices are followed by product market competition. As … predicted by theory, an increase in the number of firms from two to four reduces investments. However, a positive effect is … observed for a switch from Cournot to Bertrand, even though theory predicts a negative effect in the four-player case. This …

environmental quality until the moment that pollution is great enough to make profitable the investment in R&D. After this turning … environmental quality. The result is that the optimal investment pattern supports an environmental Kuznets curve. -- Neoclassical …