economics of photovoltaic energy, specifically valuation of this technology. First, photovoltaic power systems are described …

In this paper, we study the behavior of innovation and imitation among a group of firms in a competitive industry. To … survive, firms have two fundamental choices. They can choose to be innovative firms that develop cost-reducing technology by … their own efforts. Alternatively, they can also choose to be an imitating firm, which simply ¡§steals¡¨ the technology from …