Existing theoretical models of research and development (R&D) treat R&D as a single economic activity. Once R&D terminates, the only way for the activity to resume is by assuming some exogenous changes in the basic parameters of the model, e.g., the distribution of technological advances. In...

Under an alternate assumption of the payoff function, we analyze Lee's dynamic game model of R&D rivalry. Both similarities and differences in the equilibrium results of the model are obtained. It is shown that both the reswitching property and the convergence property of R&D rivalry are robust...

Managers of research and development (R&D) programs are often confronted with questions of what determines R&D spending (i.e. R&D search intensity) and when R&D spending is unprofitable (i.e. Reservation Technology Level). Three determinants of R&D spending are identified: the current technology...

This paper attempts to bridge the gap between R&D models that do not consider technology adoption decisions and technology adoption models that do not consider R&D decisions. It develops and analyzes a decision-theoretic model on the joint decisions of R&D and technology adoption of a firm. Two...