In a Stackelberg model the leader has the choice of the quality and imitation is costly. Paying a sunk cost is possible to have process or product innovation with some probability. An equilibrium is that the follwer invests and the leader does not.
Filippini, L., Changing quality, <<Changing quality>>, 1995; 1995 (n.330 - January): 1-16 [http://hdl.handle.net/10807/4299]
Changing quality
Filippini, Luigi
1995
Abstract
In a Stackelberg model the leader has the choice of the quality and imitation is costly. Paying a sunk cost is possible to have process or product innovation with some probability. An equilibrium is that the follwer invests and the leader does not.
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