such applications, a key role is played by complementarities in the process of innovation. …

of investment-specific technical change (ISTC); (2) the sensitivity of industry entry and exit rates to cross … of ISTC varies across industries and new investment-specific technologies can be introduced by entrants or by incumbents …

market share across firms when assessing creditworthiness. The model is able to capture features of innovation and diffusion …

development and fluctuations. In many such applications, a key role is played by complementarities in the process of innovation …

This paper investigates the effects of uncertainty emanating from technological improvements on the optimal lifetime of … technological change. From the analysis it turns out that in general this type of uncertainty shortens the optimal lifetime of … assets. More specifically, the analysis shows that: replacement under uncertainty leads to optimal lifetimes of assets that …

efficiency values. The first investment does not necessarily happen at the boundary of this set due to the discrete nature of the …

improving the innovation process raises the investment thresholds. When technological jumps are small or rare, this improvement …This paper considers technology adoption under both technological and subsidy uncertainties. Uncertainty in subsidies … a drift. The analytical solution is presented for cases when there is no subsidy uncertainty and when the subsidy …