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Using real options game models, we consider the characterization of strategic equilibria associated with an asymmetric R&D race between an incumbent firm and an entrant firm in the development of a new innovative product under market and technological uncertainties. The random arrival time of...
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competition. By analyzing the Korean firm-level data from 2000 to 2015, we find that competition is an important factor for … innovation spillovers. In addition, decreasing competition magnifies the spillover effect. The net effect of the total spillover … diminishes sales and productivity as competition decreases. Lack of competition weakens the commonly known relation that R …
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