Breitmoser, Yves; Tan, Jonathan H.W.; Zizzo, Daniel John - Centre for Decision Research and Experimental Economics … - 2008
This paper presents an experimental study of dynamic indefinite horizon R&D races with uncertainty and multiple prizes …. The theoretical predictions are highly sensitive: small parameter changes determine whether technological competition is … when rivals are close. This stylized fact, and so the usefulness of neck-to-neck competition in general, is largely …