We build an asset-pricing model with dynamic strategic competition to explain the strong
joint fluctuations in aggregate discount rates, competition intensity, profitability, and asset …

Recent research finds that markups are rising, suggesting declining competition. But does
less price competition mean less Schumpeterian “creative destruction”/industry dynamism …

This article investigates the relationship between the Herfindahl–Hirschman Index (HHI) and
welfare in multiple‐leader Stackelberg models. We formulate two long‐run models of free …

This paper proposes a novel quantitative framework with endogenous strategic competition
in heterogeneous concentrated industries. Oligopolies compete strategically for profit …

Inter-firm competition has received much attention in the theoretical literature, but recent
empirical work suggests that the growth rates of rival firms are uncorrelated. We begin by …

We build a general equilibrium model with dynamic strategic competition to reconcile
competition intensity, profitability, and returns. Product market competition endogenously …

This study combines quantitative and qualitative research methods to contribute to the
understanding of the dynamics of superior performance among the largest firms in the global …

This article applies the emerging theory of endogenous market structures to macroeconomic
issues through a few simple models. First, we study a model of Schumpeterian growth where …

The purpose of this article is to investigate the properties of equilibrium in a market with a
leader. In particular, we examine how the equilibrium values depend on existing …

Market Integration and Technological Leadership in Europe: Mapping market share positions,
product market diversification, multi Page 1 Market Integration and Technological Leadership in …