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. The risky arm could potentially lead to a dead end and the safe arm introduces further competition to make firms keep …
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. The risky arm could potentially lead to a dead end and the safe arm introduces further competition to make firms keep …
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We study a winner-take-all R&D race where firms are privately informed about the uncertain arrival rate of the invention. Due to the interdependent-value nature of the problem, the equilibrium displays a strong herding effect that distinguishes our framework from war-of-attrition models....
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is the impact of competition on cooperation. While cooperation has the benefit of avoiding duplication, it may have an … relative progress during the R&D process and the intensity of product market competition. The design is based on a modified …
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is the impact of competition on cooperation. While cooperation has the benefit of avoiding duplication, it may have an … relative progress during the R&D process and the intensity of product market competition. The design is based on a modified …
Persistent link: https://www.econbiz.de/10014160409