Arbeitspapier
Asymmetric Races of Research and Development
In this paper we study a one-shot game of R&D between two price-setting firms that are asymmetrically placed as they produce at different cost levels. First we prove the existence and the properties of a noncooperative equilibrium. Then, we show that the higher (lower) the discount rate, the lower (higher) the probability of innovating of the current leader. In a specialised version of the model we establish the effect of the productivity of R&D espenditure, initial cost gap, and market size on the expected identity of the winner of the patent race.
- Language
-
Englisch
- Bibliographic citation
-
Series: Quaderni - Working Paper DSE ; No. 51
- Classification
-
Wirtschaft
- Event
-
Geistige Schöpfung
- (who)
-
Delbono, Flavio
Denicolò, Vincenzo
- Event
-
Veröffentlichung
- (who)
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Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)
- (where)
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Bologna
- (when)
-
1988
- DOI
-
doi:10.6092/unibo/amsacta/5363
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Delbono, Flavio
- Denicolò, Vincenzo
- Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)
Time of origin
- 1988
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