Cooperative R&D and vertical product differentiation

Article Abstract:

An analysis of cooperative R&D (industrial research) and vertical product differentiation is presented. The analysis considers a partial equilibrium model which defines vertical product differentiation, Cournot competition and R&D-based quality. It is shown that cooperative R&D agreements require higher levels of R&D, quality, output and welfare compared to its non-cooperative counterpart.

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Risk dominance selects the leader: an experimental analysis

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A new study evaluates risk dominance as a mechanism of equilibrium selection using the 'Battle of the Sexes' game as a model.

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Momentum and overreaction in experimental asset markets

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Research into experimental asset markets is presented.

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