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We turn the zero-profit condition that is typically used to determine the number of firms into a game of entry/exit. We assume that identical firms compete in Cournot fashion, and when market …
Discussion paper
Heterogeneous monopolists produce goods using either brown technology, which relies on labor and carbon energy, or green technology, which relies solely on labor. R&D rms enhance productivity …
Discussion paper
We introduce a collective experimentation problem where a continuum of agents choose the timing of irreversible actions under uncertainty and where public feedback from the actions arrives gradually …
Discussion paper
The extraction of carbon energy contributes to the global stock of pollution, increasing the risk of welfare-damaging environmental dis- aster. The governments of the countries educate workers as …
Discussion paper