The transition to a green technology is central to environmental policy. During such a transition, technology and market structure often change simultaneously, as firms developing the new technology enter the market of incumbents supplying the old one. This leads to the questions how...

The transition to a green technology is central to environmental policy. During such a transition, technology and market structure often change simultaneously, as firms developing the new technology enter the market of incumbents supplying the old one. This leads to the questions how...

In many countries, inducing large-scale technological changes has become an important policy objective, as in the context of climate policy or energy transitions. Such large-scale changes require the development of strongly interlinked technologies. But current economic models have little...

We consider an abstract setting of the differential r&d game, where participating firms are allowed for strategic behavior. We assume the information asymmetry across those firms and the government, which seeks to support newer technologies in a socially optimal manner. We develop a general...

We study the optimal adaptation to extreme climate events by the central government in a setup where events are dynamically uncertain and the government does not know the true probabilities of events. We analyze different policy decision rules minimizing expected welfare losses for sites with...