Arbeitspapier
Regulating Innovative Activity: the Role of a Public Firm
Without spillovers and under the "winner-take-all" hypothesis, there is overinvestment in R&D in a non cooperative equilibrium. This is due to the so-called "common pool problem", i.e., duplication of efforts. We show that a public firm can represent a useful instrument in the hands of a policymaker to mitigate such a problem. More precisely, it is provided that, in a mixed duopoly: (i) each firm invest less than in a private duopoly, (ii) although the expected time of innovation is postponed, social welfare is higher than in a private duopoly.
- Language
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Englisch
- Bibliographic citation
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Series: Quaderni - Working Paper DSE ; No. 117
- 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)
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1991
- DOI
-
doi:10.6092/unibo/amsacta/5247
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
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
- 1991
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