This article estimates a dynamic structural model of discrete Research and Development (R&D) investment and quantifies its cost and long-run benefit for German manufacturing firms. The model incorporates…
This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing…
In this article, we characterize adversarial decision making as a choice between competing interpretations of evidence (models) constructed by interested parties. We show that if a court cannot perfectly…