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shown that, when both R&D spillovers and investment costs are sufficiently low, firms may find difficult to maintain a … to sequence their investment over time. Finally, when spillovers are asymmetric and the knowledge leaks mainly from the …
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internalize the spillovers of their investment in innovation. Finally, in the third stage, each country decides non … spillovers are not very important. …
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This paper examines international cooperation on technological development as an alternative to international cooperation on GHG emission reductions. It is assumed that when countries cooperate they coordinate their investments so as to minimize the agreement costs of controlling emissions and...
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