Dynamic Investment and Product Market Rivalry: the Network Q Model -- by M. Cecilia Bustamante, Bruno Pellegrino

We thank Nico Crouzet, Janice Eberly, Joel Flynn, Xavier Gabaix, Ben Golub, Pete Kyle, Hugo Hopenhayn, Ernest Liu, Yueran Ma, Pascal Noel, Koki Okumura, Ludwig Straub, Luke Taylor, Neng Wang, Olivier Wang, Ivan Werning, and workshop participants at NBER Corporate Finance Spring Meetings, the Minnesota Macro Theory Workshop, the New York Macro Theory Group, the Network Sciences in Economics Conference 2026, the BSE Forum 2026, as well as seminar participants at NWU Kellogg, Minnesota Carlson, UMaryland Smith, Columbia Finance & Macro, and UToronto Rotman for helpful feedback. We thank Lorenzo Calvetti for outstanding research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.