英语翻译The remainder of the paper is organized as follows.Section 2describes our model.In Section 3,wederive the equilibrium for agiven state of the environment.The firms'innovation decisions change the state of the environment over time.The steady state of this processis studied in Section 4.In Section 5,we show that the industry monotonically approaches the steadystate and describe the industry's dynamics on its adjustment path.We concludein Section 6.

英语翻译
The remainder of the paper is organized as follows.
Section 2
describes our model.In Section 3,we
derive the equilibrium for a
given state of the environment.The firms'
innovation decisions change
the state of the environment over time.
The steady state of this process
is studied in Section 4.In Section 5,we show that the industry monotonically approaches the steady
state and describe the industry's dynamics on its adjustment path.We conclude
in Section 6.The proofs of all formal results are relegated in the Appendix
A section.