The authors examine the timing and quality of product introduction in an R&D stopping game, where they allow for horizontal and vertical differentiation in the product market. They observe that discontinuous changes in introduction dates can occur as firms' abilities as researchers change....

The objective of this paper is to investigate the impact of R&D cooperation on cartel formation in the product market. The R&D investments that precede the production process are aimed at the reduction of the unit manufacturing costs, and could create positive externalities for the potential...

This paper considers an international financial problem of a sovereign country called debt overhang. The term "debt overhang" expresses the situation where a sovereign country has borrowed money from foreign banks and has been unable to fulfill the scheduled repayments for some period. We...

This paper presents a dynamic formalization of the behavior of creditor banks in the presence of the secondary market for debts. We formulate the problem as an infinite horizon game with two banks as players where each bank decides in every period either to sell its loan exposure to the debtor...

This paper discusses the duration of the debt overhang with two lender banks. We model the problem as an infinite horizon game with two banks as players. In every period, each bank decides either to sell its loan exposure to the debtor country at the present secondary market price, or to wait...

The authors examine the timing and quality of product introduction in an R&D stopping game, where they allow for horizontal and vertical differentiation in the product market. They observe that discontinuous changes in introduction dates can occur as firms' abilities as researchers change....

The objective of this paper is to investigate the impact of R&D cooperation on cartel formation in the product market. The R&D investments that precede the production process are aimed at the reduction of the unit manufacturing costs, and could create positive externalities for the potential...