This paper considers investment behavior of duopolistic firms subject to technological progress. It is assumed that initially both firms offer a homogeneous product, but after a stochastic waiting time they are able to realize a product innovation. Production capacities of both firms are product...

This paper considers investment behavior of duopolistic firms subject to technological progress. It is assumed that initially both firms offer a homogeneous product, but after a stochastic waiting time they are able to implement a product innovation. Production capacities of both firms are...

The main aim of this paper is to study the propensity of consumer cooperatives (Coops) to use incentive schemes in situations of strategic interaction with profit-maximizing firms (PMFs). Our model provides a reason why Coops are less prone than PMFs to pay variable bonuses to their managers. We...

The main aim of this paper is to study the propensity of consumer cooperatives (Coops)to use incentive schemes in situations of strategic interaction with profit-maximizing …rms (PMFs). Our model provides a reason why Coops are less prone than PMFs to pay variable bonuses to their managers. We...

The main aim of this paper is to derive properties of an optimal compensation scheme for consumer cooperatives (Coops) in situations of strategic interaction with profit- maximizing firms (PMFs). Our model provides a reason why Coops are less prone than PMFs to pay variable bonuses to their...