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Summary:
The aim of this project is to characterize intertemporally optimal investment strategies of financially constrained firms which compete on an established market and at the same time invest in the development of new products to be introduced to the market. Both the success of product innovation activities and the evolution of the demand for new products is assumed to be stochastic and due to financial constraints generates bankruptcy risk for the firms. A combination of analytical and numerical methods will be used to characterize the equilibrium profile of firms' investment strategies. Based on this it will be studied how the tightness of financial constraints affects innovation and bankruptcy rates of firms of different size. Our approach will also allow to analyze the implications of innovation subsidies and innovation cooperations between firms.
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21021
Wencheng Yu, Xingang Wen, Nick Huberts, Peter Kort PDF
Strategic investment under uncertainty: Why multi-option firms lose the preemption run Project: C2 Published: Journal of the Operational Research Society 75 (2023), 1855−1872 Notes: DOI: 10.1080/01605682.2023.2281535 |
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21020
Herbert Dawid, Serhat Gezer PDF
Project: C2 Published: Dynamic Games and Applications (2021) Notes: https://doi.org/10.1007/s13235-021-00408-w
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Markov perfect equilibria in multi-mode differential games with endogenous timing of mode transitions |
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21012
Herbert Dawid, Martin Friesen, Oleksandr Kutoviy, Michael Röckner PDF
Mean-field analysis of industry dynamics under financial constraints |
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20101
Herbert Dawid, Xingang Wen PDF
Product innovation investment under technological uncertainty and financial constraints Project: C2 |
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20097
Xingang Wen, L’ubomír Baňas, Herbert Dawid, Tsiry Avisoa Randrianasolo, Johannes Storn PDF
Published: Journal of Scientific Computing 92, no. 54 (2022) Notes: DOI: 10.1007/s10915-022-01892-x
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On numerical approximation of a system of Hamilton-Jacobi-Bellman equations arising in innovation dynamics |
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20095
Xingang Wen, Peter Kort, Kuno J. M. Huisman PDF
Capacity Investment under Uncertainty with Volume Flexibility 1 - Preemption Analysis Project: C2 |
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20092
Herbert Dawid, Michel Y. Keoula, Michael Kopel, Peter Kort PDF
Dynamic investment strategies and leadership in product innovation Project: C2 Published: European Journal of Operational Research Available online (2022) Notes: DOI: 10.1016/j.ejor.2022.06.046 |
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20066
Simona Bigerna, Verena Hagspiel, Peter Kort, Xingang Wen PDF
How damaging are environmental policy targets in terms of welfare? Project: C2 To appear: European Journal of Operational Research (2023) Notes: DOI: https://doi.org/10.1016/j.ejor.2023.04.026 |
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20027
Herbert Dawid, Gerd Muehlheusser PDF
Smart Products: Liability, Investments in Product Safety, and the Timing of Market Introduction Project: C2 Published: Journal of Economic Dynamics and Control 134, no. 104288 (2022) Notes: https://doi.org/10.1016/j.jedc.2021.104288 |
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19072
Herbert Dawid, Serhat Gezer PDF
Delaying Product Introduction in a Duopoly: A Strategic Dynamic Analysis Project: C2 Published: Dynamic Economic Problems with Regime Switches 25 (2021), 227--248 |
