This paper explores the effects of innovation efficiency on technology gap and product diversity between a leading firm and its competitor. Our analysis shows some interesting results: when innovation efficiency is sufficiently large and increases, the leading firm may expand technology gap, and...

Using pooled data from fifteen industrial and developing countries from 1980 to 1995, this paper examines the macroeconomic determinants of stock market development, particularly market capitalization. The paper finds that: (1) real income, saving rate, financial intermediary development, and...

The traditional wisdom holds that the benefits of a decentralized channel structure arise from downstream competitive relationships. In contrast, Arya and Mittendorf (2007) showed that the value of decentralization can also arise from upstream interaction when the downstream firm conveys...

We consider a game of endogenous timing with observable delay in a mixed duopoly with endogenous vertical differentiation in the context of sequential quality and price choice. We find that a simultaneous play in the first opportunity at each stage turns out to be the unique subgame perfect Nash...

Because of the current energy crisis, researchers and governments pay more attention to new and renewable energy. Renewable energy is a new area of development in China, and thus many talents are attracted to pursue research in these directions with the result that the renewable energy field has...