innovation costs over time, and an inter-firm spillover, which lowers only the second comer’s R&D costs. This spillover exerts … range. When the size of the innovation is large, it implies under-investment. Hence, even in the presence of a moderate …

their innovation costs, and an inter-.rm spillover, that lowers only the second comer.s R&D cost. This spillover exerts its … the innovation size is large, it implies that the duopolistic market equi- librium involves underinvestment. Hence, even …

innovation costs over time, and an inter-firm spillover, which lowers only the second comer’s R&D costs. This spillover exerts … range. When the size of the innovation is large, it implies under-investment. Hence, even in the presence of a moderate …

short, which is realistic. Second, we show that in case of a major innovation, an optimal public policy requires a …

We present a dynamic duopoly model of technical innovation where R&D costs decrease exogenously with time, and inter … technical progress is sufficiently fast and the disclosure lag is relatively long. Third, in case of a major innovation our …

their innovation costs, and an inter-firm spillover, that lowers only the second comer's R&D cost. This spillover exerts its … the innovation size is large, it implies that the duopolistic market equilibrium involves underinvestment. Hence, even in …

There is substantial empirical evidence that innovation is geographically concentrated. Unlike what is generally …

Understanding the factors that may produce a sustained rate of innovation is important for promoting economic … development and growth. In this paper, we examine the role of human capital in firms' innovation by using a large sample of … small and medium sized cities. Patent applications are used as the measure of innovation. Human capital indicators used …

becomenegative and the firm stops producing the variety. This diminishes the life span of innovations,thus reducing the return on …

profits become negative and the firm stops producing the variety. This diminishes the life span of innovations, thus reducing …