Economists examine two types of variables when studying aggregate production and economic growth. Some of these variables are directly productive factors (physical capital, labor and human capital), while other variables aren't productive themselves, but affect production indirectly. I introduce...

Our objective is to understand how a firm’s product development capability (PDC) affects the launch strategy for a durable product that is sequentially improved over time in a market where consumers have heterogeneous valuations for quality. We show that the launch strategy of firms is...

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