We present an endogenous growth model in which both the investment to develop a new technology— that upgrades the quality of machines—and entry of imitators are determined endogenously. According to the model, how soon the new-technology machine is launched after the patent is granted is...

We present an endogenous growth model in which both the investment to develop a new technology-that upgrades the quality of machines-and entry of imitators are determined endogenously. According to the model, how soon the new-technology machine is launched after the patent is granted is...

We present an endogenous growth nmodel in which both the investment to develop a new technology - that upgrades the quality of machines - and entry of imitators are determined endogenously. According to the model, how soon the new-technology machines in launched after the patent is granted is...