This paper develops a model to explain and analyze the evolution of network structure (connectivity) and design (flight frequency, aircraft size, prices) in the post-deregulation U.S. airline industry. We show that legacy carriers choice of Hub-and-Spoke networks and the emergence of low cost...

R&D is typically characterized by uncertainty about the existence and timing of the innovation (``fundamental R&D"). I show that these uncertainties dampen R&D investment, which may exhibit non-monotonic dynamics, possibly converging to a steady state level. In fundamental R&D, increased rivalry...

R&D is typically characterized by uncertainty about the existence and timing of the innovation (“fundamental R&D"). I show that these uncertainties dampen R&D investment, which may exhibit non-monotonic dynamics, possibly converging to a steady state level. In fundamental R&D, increased...

R&D is typically characterized by uncertainty about the existence and timing of the innovation (“fundamental R&D"). I show that these uncertainties dampen R&D investment, which may exhibit non-monotonic dynamics, possibly converging to a steady state level. In fundamental R&D, increased...