Firms constantly invest in improving product quality with innovative technologies. However, the out-come of research into innovative technology can be inconsistent. This paper investigates how a firm should choose between a mature technology and an innovative technology in upgrading an existing...

We develop an analytical framework to investigate the competitive implications of personalized pricing technologies (PP). These technologies enable first-degree price discrimination: firms charge different prices to different consumers, based on their willingness to pay. We first show that, even...