This paper contributes to the debate on the implication of market integration in fostering innovations. In contrast to the literature, we use a model of vertical product differentiation and formalize the speed of response to market integration as a first mover advantage in R&D. If the domestic...

Firms frequently employ various strategies that make products obsolete after a relatively short time or limited usage (“product obsolescence”). Early product obsolescence harms consumers, undermines market efficiency, and increases the waste the throw-away economy generates. While instances...

Deadlines are common in product development and are often felt to be too harsh - many development efforts are still worth continuing at the time of mandated termination. We examine the value of deadlines from the agency-theoretic perspective. We consider a firm that pays an agent to lead product...