Dynamic Investment and Product Market Rivalry: The Network Q Model
We present a new dynamic model of corporate investment in imperfectly-competitive product markets, extending the neoclassical (Q) theory of investment to a multi-firm, multi-product, fully structural model. The model provides an explicit formula to quantify corporate investment and characterize investment spillovers for the entire network of firms in any economy.
Three Strategic Bets on AI’s Future
This paper examines competition in the consumer AI assistant market using worldwide iOS and Android app-store data from seven major AI assistants from May 2023 through December 2025. Rather than finding a winner-take-all market, we show that major product launches tend to coincide with growth in the overall category, with little evidence of direct cannibalization across leading models. In other words, the “AI war” appears less zero-sum than commonly assumed.