Uncertainty about the value of a contested innovation induces leaders and laggards to update their expectations in opposite directions. We characterize situations in which firms that have obtained an initial advantage are not the most likely to achieve final success. In spite of amplifying a...

We synthesize research on conflict as a fundamental economic phenomenon, arguing that the implications of the "dark side of self-interest" have received insufficient attention in economics. We define conflict as interactions where parties choose costly inputs that are adversarially combined...