This paper develops the Hotelling spatial model investigating the optimal choices of R&D risk in a market exhibiting network externalities. Assuming that firms perform R&D projects with identical expected outcomes but different risk degrees, it is found that, under certain conditions, the level...

Pattern dynamics of a three-trophic population model was numerically investigated in a two-dimensional space. By measuring the spatial correlation function of the domain patterns, whose density was higher than 90% of the maximum density in the whole area, we found that the characteristic length...

In the presence of R&D spillovers, this paper analyzes the regulated firms' R&D performances according to their noncooperative or cooperative R&D activities. First, it analyzes the R&D equilibrium in local (natural) monopolies, examines its welfare effects, and finds some relationship between...

This paper investigates the impacts of competition structures on firms’ incentives for adopting strategic environmental corporate social responsibility (ECSR) certified by a Non-Governmental Organization. We show that, to induce firms to adopt certified ECSR, the certifier will set a standard...

Korea has focused on growth-oriented policies by creating new housing units rather than maintaining or rehabilitating existing ones although having a housing stock as huge as those of other advanced nations. There have been, thus, few efforts to develop professional human resources who maintain...