We analyze a model of oligopolistic competition with ongoing investment. Special cases include incremental investment, patent races, learning by doing, and network externalities. We investigate circumstances under which a firm with low costs or high quality will extend its initial lead through...

This paper develops necessary and sufficient conditions for monotone comparative statics predictions in several classes of stochastic optimization problems. The results are formulated so as to highlight the tradeoffs between assumptions about payoff functions and assumptions about probability...

This paper derives sufficient conditions for a class of games of incomplete information, such as first price auctions, to have pure strategy Nash equilibria (PSNE). The paper treats games between two or more heterogeneous agents, each with private information about his own type (for example, a...