Technological progress as a major source of economic development stems from the interaction of two types of innovations, drastic and incremental. While the former sets the fundamental pace of economic progress by redefining production possibilities as Schumpeter strongly emphasized, the latter...

Following our previous study that established the concept of limited technology transferability, this paper analyses the equilibrium outcomes of two forms of research joint ventures (RJVs). The marginal analysis shows that market equilibria of perfect and imperfect RJVs result in a socially...

Following our previous study that established the concept of limited technology transferability, this paper analyses the equilibrium outcomes of two forms of research joint ventures (RJVs). The marginal analysis shows that market equilibria of perfect and imperfect RJVs result in a socially...