We study the effect of product market competition on the incentives to innovate and the economy’s rate of growth in an endogenous growth model. We extend previous works in industrial organization by assuming that innovation is sequential and cumulative, and early endogenous growth models by...

We develop a theory of exclusive dealing that rehabilitates pre-Chicago-school analyses. Our theory rests on two realistic assumptions: that firms are imperfectly informed about demand, and that a dominant firm has a competitive advantage over its rivals. Under those assumptions, exclusive...

type="main" <p>We analyze the optimal division of profit with complementary innovations. Even if each innovation can be achieved independently of the others, we identify circumstances in which the research should be conducted sequentially, targeting one innovation after another in a prespecified...</p>

We analyze a model of competition in non-linear pricing under complete information. Among the equilibria of the game, we focus on the truthful equilibrium and the equilibrium that is Pareto dominant for the firms. These coincide when there are only two firms, but differ with three or more firms....

We propose a dynamic model of a patent portfolio race in an industry in which innovation is incremental. Two firms compete in prices and in research. We study the Markov perfect (closed-loop) equilibrium of the resulting differential game, identifying a steady state in which firms compete neck...

I model environmental overcompliance as a signalling device. In the model, a benevolent government may or may not tighten environmental standards. Production costs under the stricter environmental regulation are private information to the firms, and tightening environmental policy is socially...

Il presupposto di questo lavoro è che le leggi di movimento del capitalismo possono essere considerate come il risultato di un conflitto permanente tra le due classi sociali antagoniste - lavoratori e capitalisti; un conflitto che riguarda in primo luogo la distribuzione del reddito ma anche la...