How do financial constraints influence innovative activities of firms? In a two-period model of price competition with … and might even become a monopolist in the second period of competition. If we finally assume that both firms are … financially constrained and apply for a loan at their house bank, we can show that Innovation activities are further reduced and …

game of duopolistic R&D competition. By comparing open-loop and feedback Nash equilibria, representing imperfect and …

to model Strategie price competition between the rivals in a product market, we can fiirthermore show that the need for …

This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … high degrees of vertical differentiation, i.e. low competition, low-ability agents are under-incentivized and exert too … little effort. For high degrees of competition, high-ability agents are over-incentivized and bear too much risk. For a range …