Kathy A. Paulson Gjerde

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W e model a firm's decisions about product innovation, focusing on the extent to which features should be improved or changed in the succession of models that comprise a life cycle. We show that the structure of the internal and external environment in which a firm operates suggests when to innovate to the technology frontier. The criterion is maxi-mization(More)
We model a firm’s decisions about product innovation, focusing on the extent to which features should be improved or changed in the succession of models that comprise a life cycle. We show that the structure of revenues and costs can suggest when a firm should pursue radical rather than incremental innovation. We use the criterion of maximizing the expected(More)
We model a firm’s decisions about quality investment under differing external (market) and internal (cost and revenue) environments. We find that costs and benefits of expending resources on quality improvement depend on the price and quality profiles of competitors, the persistence of reputation in the marketplace, the relative efficacy of quality(More)
We model a rm's decisions about product innovation, focusing on the extent to which features should be improved or changed in the succession of models that comprise a life cycle. We show that the structure of revenues and costs can suggest when a rm should pursue radical innovation. We use the criterion of maximizing the expected present value of pro ts(More)
The Joint Executive Committee (JEC), one of the most studied cartels in all of economics, was at best partially successful at maintaining collusion. The railroad cartel faced frequent breakdowns and recontracting efforts. This paper considers the effects that large capital debt may have had on the members of the JEC. The JEC is compared to the express(More)
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