We expect a firm's competitive advantage to manifest itself in a return on invested capital that is higher than the opportunity cost of capital. Deviations of returns from the cost of capital are a signal for competitive entry or for exit, while the speed of convergence indicates the strength of...

This paper models the competition of user networks as a continuous-time Markov process. It presents a dynamic version of the Discrete Choice Analysis with state-dependent choice probabilities. Among other things, we show that the network competition can be characterized by the coexistence of...

Dynamic pricing is often complicated by strategic customer behavior. One tactic utilized by retailers to counter strategic customer behavior is to adjust prices in an unpredictable manner. This phenomenon has been studied in the Markovian pricing literature in single-retailer settings. In this...