We present a discrete-time version of an otherwise standard Schumpeterian growth model. Discrete time exhibits two important differences from continuous time. First, the probability of successful innovation cannot be homogeneous of degree one in inputs. A natural R&D analogue to constant returns...

We consider the issue of first versus second mover advantage in differentiated-product Bertrand duopoly with asymmetric linear costs. We provide a generalization of some well-known results in the cases where prices are strategic substitutes or complements, dispensing with extraneous assumptions...

In the framework of symmetric Cournot oligopoly, this paper provides two minimal sets of assumptions on the demand and cost functions that imply respectively that, as the number of firms increases, the minimal and maximal equilibria lead to (i) decreasing industry price and increasing or...