The purpose of this paper is to study the adoption of a new technology by a firm when the competitor comes into play at a random date that can be seen as her birth date. The presence of a competitor is thus only revealed when she invests. We show that there exists a unique Bayesian equilibrium that can be split into three stages. No firm will invest before a threshold T ∗ 1 even if she is born ...

We show that regulators’ price-setting, rate base, and allowed rate of return decisions are inextricably linked. Once regulators switch from traditional rate of return regulation, the irreversibility of much infrastructure investment significantly alters the results of the usual approach to price-setting, as exemplified by Marshall, Yawitz and Greenberg (1981). In particular, the practice of ‘o...

PPLATE is a computer program developed to analyze raw cell adhesion data obtained from the parallel-plate flow chamber. It is based on a mathematical model described elsewhere (Zhang and Neelamegham, 2002a). The objective of this software is to analyze raw data on cell rolling, firm-arrest and cell transmigration to determine four frequency and probability parameters, namely, primary capture fr...

We present a simple model of common ownership in which an investor chooses its stake competing firms light the effects on firm behavior and profits. Two compete Cournot duopoly, affects firm’s objective function manner posited by Bresnahan & Salop (1986) O’Brien (2000). show that with equal stakes both firms—a so‐called concentrated owner (CCO)—places greater value additional share firm, compar...

Two generally accepted visions of a firm in economics, the classical (a firm as a profit-maximizing technology-bearer) and the neoclassical (a firm as a set of interdependent contracts to allocate resources) can be amended with a third one, brought forward with a system thinking: a firm is a survivor and thus a selfreproducer. Application of von Neumann’s model of universal self-reproducing aut...

We study the problem of a firm M which wishes to inform a community of individuals about its product. Information travels within the community because of the social interactions between individuals. Our interest is in understanding how the firm can incorporate the network of social interactions in the design of its communication strategy. We study a model of undirected networks and start by sho...

All opinions expressed here are those of the author and not those of the Economics Education and Research Consortium Research dissemination by the EERC may include views on policy, but the EERC itself takes no institutional policy positions The observable outcomes of post-Soviet economic reforms have generated large interest and controversy in the transition debate. Privatization and market com...

Aguirregabiria and Mira (2007), henceforth AM (2007), study pseudo maximum likelihood estimators of dynamic games and propose an iterative nested pseudo maximum likelihood method. This comment revisits the asymptotic properties of the sequential method. We illustrate that the method may not be consistent. We provide an example in which the sequential method converges to a fixed number distinct ...