CLEMENZ, G (1992) MARKET-STRUCTURE AND RESEARCH-AND-DEVELOPMENT COMPETITION. EUROPEAN ECONOMIC REVIEW, 36 (4). pp. 847-864. ISSN 0014-2921,
Full text not available from this repository.Abstract
R&D is modelled as a random draw from a set of technologies for producing a homogeneous good. It is shown that both, a pure monopolist and Bertrand-oligopolists stop R&D at technology levels which are less productive than is socially desirable. With Bertrand-competition this 'reservation technology level' is independent of the number of firms. The effort per R&D project depends in general on the market structure, and total R&D expenditures generated in markets are smaller than the social optimum.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | INDUSTRIAL-STRUCTURE; INNOVATION; UNCERTAINTY; EVOLUTION; |
| Depositing User: | Dr. Gernot Deinzer |
| Last Modified: | 19 Oct 2022 08:44 |
| URI: | https://pred.uni-regensburg.de/id/eprint/54547 |
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