We present a continuous-time generalization of the seminal R&D model of d’Aspremont and Jacquemin (American Economic Review, Vol. 78, No. 5) to examine the trade-off between the benefits of allowing firms to cooperate in R&D and the corresponding increased potential for product market...

This thesis includes two essays. Essay 1 analyzes the diffusion process of a cost-reducing technology innovation within an industry. Two factors generate the diffusion. The first factor is the gently declining production cost with the innovation, which makes technology adoption more profitable...

Contests are economic or social interactions in which two or more players expend costly resources in order to win prize(s). The resources expended by players determine their probability of winning a prize. This dissertation investigates theoretical and experimental applications of Contest theory...