Matsumura, Toshihiro; Matsushima, Noriaki; Cato, Susumu - Institute of Social and Economic Research (ISER), Osaka … - 2009
This paper formulates a duopoly model in which firms care about relative profits as well as their own profits. Our purpose is to investigate the relationship between the weight of relative performance and R&D expenditure. We find a non-monotone relationship between the weight of relative...
