Dynamic R&D competition with memory

Dockner, E.J., Feichtinger, G., & Mehlmann, A. (1993). Dynamic R&D competition with memory. Journal of Evolutionary Economics 3 (2) 145-152. 10.1007/BF01213831.

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Abstract

We consider a differential game of R&D competition and explore the impact of rivalry on the firms' investment behavior over time. Using closed-loop strategies and hence allowing for strategic interactions among rival firms we show that R&D spending by the individual competitor is increased due to competition in the race for priority. This leads us to argue that competitive encounters enhance R&D activities at the same time as increasing efficiency in the race for a technological breakthrough.

Item Type:	Article
Uncontrolled Keywords:	R&D; Industrial organization; Stragegic interaction; Dynamic games
Research Programs:	World Population (POP)
Bibliographic Reference:	Journal of Evolutionary Economics; 3(2):145-152 (June 1993)
Depositing User:	IIASA Import
Date Deposited:	15 Jan 2016 02:02
Last Modified:	27 Aug 2021 17:14
URI:	https://pure.iiasa.ac.at/3698

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