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On the Number of Firms and the Quantity of Innovation

Author

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  • Robin Cowan

    (Universiteit Maastricht)

Abstract

This paper models a dynamic innovation process to examine the relationship between levels of R and D and market structure. In contrast to most of the literature, here R and D increases firms' knowledge stocks, making future R and D less costly. This s a feedback by which market structures can affect levels of R and D. In general while an increase in the number of firms reduces R and D per firm, industry R and D increases. The model also endogenizes the number of firms using a zero profit condition.

Suggested Citation

  • Robin Cowan, 2002. "On the Number of Firms and the Quantity of Innovation," Economics Bulletin, AccessEcon, vol. 12(6), pages 1-9.
    • Handle: RePEc:ebl:ecbull:eb-02l10002
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    More about this item

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

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