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We examine a model of R&D competition and cooperation in the presence of spillovers. Unlike virtually all the literature, however, we treat these spillovers as endogenous and under the control of firms. We show that it is then essential to make a number of distinctions that are ignored in the...
Persistent link: https://www.econbiz.de/10005136627
produced at least one major innovation at any time in the United Kingdom from 1945–82. Both datasets yield the same conclusion …
Persistent link: https://www.econbiz.de/10005136678
, innovation and economic growth. We provide empirical evidence that the reforms carried out under the EU Single Market Programme … with a subsequent increase in innovation intensity and productivity growth for manufacturing sectors. In our analysis we … reforms on average profitability, and the effects of profitability on innovation and productivity growth. …
Persistent link: https://www.econbiz.de/10005136744
intervention, affecting the expected profitability of innovation, may both thwart the incentives to undertake research (average … deterrence) and guide the use to which innovation is put (marginal deterrence). We show that public intervention should become …
Persistent link: https://www.econbiz.de/10005000438
that influence innovation by firms and their subsequent growth. Our data come from a survey of nearly 4,000 firms in 24 … and opportunities for innovation, virtually every firm that emerged from central planning was maladapted to the new … competition in market economies. We find evidence of the importance of a minimum of rivalry in both innovation and growth: the …
Persistent link: https://www.econbiz.de/10005067370
efficiency; provides further insight into why Open Source Software is a successful model of innovation and development in digital …
Persistent link: https://www.econbiz.de/10005067419
time. Otherwise, it will gradually reduce its innovation effort over time and ultimately terminate production. Productivity …
Persistent link: https://www.econbiz.de/10005067455
By choosing their organizations, firms trade-off productive efficiency and time spent in implementing innovation. We …
Persistent link: https://www.econbiz.de/10005067458
During technological revolutions, stock prices of innovative firms tend to exhibit high volatility and bubble-like patterns, which are often attributed to investor irrationality. We develop a general equilibrium model that rationalizes the observed price patterns. The high volatility results...
Persistent link: https://www.econbiz.de/10005067467
Technological progress takes the form of improvements in the quality of an array of intermediate inputs to production. In an equilibrium that is standard in the literature, all research is carried out by outsiders, and success means that the outsider replaces the incumbent as the industry...
Persistent link: https://www.econbiz.de/10005067489