In this paper, we investigate the role of output market imperfections in constraining the microfinance program to mitigate credit market imperfections. We develop a model in which output market imperfections increase operating costs for NGOs and create barriers for producers to market their...

This paper develops a duopoly model of vertical product differentiation where two domestic firms incur variable costs of quality development. These domestic firms can purchase a superior foreign technology through licensing. Outcomes between Bertrand and Cournot competition are compared. We find...