Levin, Richard C.; Reiss, Peter C. - In: RAND Journal of Economics 19 (1988) 4, pp. 538-556
This article analyzes R&D policies when the returns to cost-reducing and demand-creating R&D are imperfectly appropriable and market structure is endogenous. We generalize previous characterizations of appropriability to permit the possibility that own and rival R&D are imperfect substitutes. We...