Consider a dynamic duopoly model where R&D spending is used to increase the reliability of a firm's product under two competitive scenarios: the home firm competes with a "complacent" foreign firm that does no R&D whatsoever or with a "lockstep" foreign firm that improves its product at exactly...

Consider a dynamic intra-industry trade model with two goods, two firms, and two countries in which product ¡°reliability¡± is determined by R&D paths. This paper focuses on how a change in competitive conditions in terms of manufacturing costs affects the firms¡¯ decision about optimal...

The present paper examines the welfare effects of a dynamic Research and Development (R&D) game at the firm level in a two-country, two-firm, intra-industry trade context. Economists do not use the trade balance as a measure of economic welfare, but it is often used in the public arena. The...

The paper considers a dynamic model in which an income stream,growing over time, is optimally divided into consumption andexpenditures on waste disposal, the latter being optimally dividedbetween ``recycling''and ``landfilling.'' Recycling is thoughtof as a ``backstop'' waste disposal technology...