Castañeda Sabido, Alejandro - In: El Trimestre Económico LXIV (4) (1997) 256, pp. 499-511
This paper studies a stochastic patent race in which firms are allowed to undertake several projets aimend at the same innovation. The main result of the study shows that the market portfolio of projects is not invariant to the number of firms in a game of timing. This result also has...