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Global climate change and other environmental challenges require the development of new energy technologies with lower emissions. In the near-term, R&D investments, either by government or the private sector, can bring down the costs of these lower emission technologies. However, the results of...
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development of the producers is a direct consequence of the association of a number of factors such as innovation and technology …
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We consider a model of innovation that distinguishes between ideas and innovations. While innovation responds to … incentives, ideas are a scarce resource that provide an exogenous constraint on the rate of innovation. We investigate how the … optimal reward structure is shaped by the scarcity of ideas. Substitute ideas for innovation in the model arrive to random …
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