Firms constantly invest in improving product quality with innovative technologies. However, the out-come of research into innovative technology can be inconsistent. This paper investigates how a firm should choose between a mature technology and an innovative technology in upgrading an existing...

This supplementary material for "Asymptotics for the Survival Probability of Time-Inhomogeneous Diffusion Processes" contains (i) some facts related to the normal density and distribution functions (Section 1), which are used in the calculation of explicit formulas in Equation (19) (Section 2);...

This paper develops an analytical approach to compute the explicit asymptotic formulas for the probability that a time-inhomogeneous diffusion process does not cross a non-flat, lower/upper boundary. We derive the explicit formulas for the first four terms and provide the error bound. The...

China, the European Union and Global Governance examines the key determinants of European and Chinese approaches to the restructuring of global governance systems.

The North Korean nuclear issue has received a great deal of international attention, especially in the context of the role that China can play in diffusing the crisis. China's role in the six-party talks has been grossly overstated or misunderstood. To have a realistic assessment, one needs to...