Showing 1 - 10 of 14
combine the best aspects of innovation races and research tournaments. …
Persistent link: https://www.econbiz.de/10011663194
This paper studies the optimal design of dynamic research contests. We introduce interim transfers, which are paid in every period while the contest is ongoing, to an otherwise standard setting. We show that a contest where: (i) the principal can stop the contest in any period, (ii) a constant...
Persistent link: https://www.econbiz.de/10012056815
This article examines the effects of market structure on the variety of research projects undertaken and the amount of duplication of research. A characterization of the equilibrium market portfolio of R&D projects and the socially optimal portfolio is provided. It is shown that a merger...
Persistent link: https://www.econbiz.de/10011663162
This paper analyzes the design of innovation contests when the quality of an innovation depends on the research …
Persistent link: https://www.econbiz.de/10011993818
This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We show that … prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other … acquisitions only has a weakly negative innovation effect, and we provide conditions under which the effect is zero. Furthermore …
Persistent link: https://www.econbiz.de/10012284781
resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak and external financing conditions are bad. An RJV may increase the … innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation tend to be profitable, but …
Persistent link: https://www.econbiz.de/10013285527
This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a … foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect …
Persistent link: https://www.econbiz.de/10012662673
resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak or external financing conditions are bad. An RJV may increase the … innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation also increase consumer surplus and …
Persistent link: https://www.econbiz.de/10014333778
This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a …, prohibiting acquisitions has a weakly negative overall innovation effect. We provide conditions determining the size of the effect …
Persistent link: https://www.econbiz.de/10014333779
Contrary to most of the literature, which focuses only on the level of investment in innovation, this paper examines …
Persistent link: https://www.econbiz.de/10011282467