We model pre-investment R&D decisions in the presence of spillover effects in an option pricing framework with analytic tractability. Two firms face two decisions that are solved for interdependently in a two-stage game. The first-stage decision is: what is the optimal level of coordination...

We study a Schumpeterian model of long-run growth with endogenous fertility and with three interacting dimensions of innovation. Scientific research is the fundamental dimension of innovation that creates new technological knowledge. This is allocated over new working prototypes in the...

Energy Service Companies (ESCOs) are private sector instruments that offer energy-/emission-improvement (energy saving, energy efficiency, energy conservation, emission reduction) projects in the developed and in some developing countries. Literature reveals that energy-/emission-improvements of...