This essay studies the optimal timing for a firm to adopt a new process innovation in the presence of learning. A …

This essay studies the optimal timing for a firm to adopt a new process innovation in the presence of learning. A …

The literature on environmental R&D frequently studies innovation as a two-stage process, with a single R&D event … leading from a conventional polluting technology to a perfectly clean backstop. We allow for uncertainty in innovation in that … once. Using and externding recent results from multi-stage optimal control theory, we provide a full characterization of …

In a continuous-time framework we study the technology and investment choice problem of a continuous co …

present value of its profit stream in a continuous-time infinite-horizon framework by setting participation fees or quantities …

We examine how different renewable energy support policies affect innovation in solar and wind power technologies. The … distinguishing two dimensions of regulation, i.e. design and intensity, and their effects on innovation. The patent data is based on …, the positive effect on patenting activity increases significantly over time with an increase in the duration of the …

We study how learning affects an uninformed monopolist's supply and investment decisions under multiplicative … the random demand. Observing prices reveals this information slowly. We first show how to incorporate Bayesian learning … of learning on supply and investment decisions, as well as the steady state level of capital. Our findings are as follows …