Beath, John; Katsoulacos, Yannis; Ulph, David - In: Economic Journal 99 (1989) 395, pp. 74-83
This paper uses a natural extension of Lee and Wilde's (1980) model to show that the outcome of technological competition between firms (or countries) depends on the resolution of two forces: the profit incentive and the competitive threat. Using a duopoly model of a patent race, the paper...