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Strategic R&D Policy

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  • Beath, John
  • Katsoulacos, Yannis
  • Ulph, David
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    Abstract

    This paper uses a natural extension of Lee and Wilde's (1980) model to show that the outcome of technological competition between firms (or countries) depends on the resolution of two forces: the profit incentive and the competitive threat. Using a duopoly model of a patent race, the paper illustrates that, by understanding the relative strength of these two forces, one can not only go a long way to understanding the outcome of these races, but also obtain crucial insights into the desirability of various R&D policies. The particular example considered in the paper is the subsidizing of R&D effort. Copyright 1989 by Royal Economic Society.

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    Bibliographic Info

    Article provided by Royal Economic Society in its journal The Economic Journal.

    Volume (Year): 99 (1989)
    Issue (Month): 395 (Supplement)
    Pages: 74-83

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    Handle: RePEc:ecj:econjl:v:99:y:1989:i:395:p:74-83

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    Cited by:
    1. Andreas Panagopoulos, 2004. "Patent Protection As A Stimulant for Risky Innovation. Could TRIPS be Counterproductive?," Bristol Economics Discussion Papers 04/566, Department of Economics, University of Bristol, UK.
    2. Siebert, Ralph & von Graevenitz, Georg, 2006. "How Licensing Resolves Hold-Up: Evidence from a Dynamic Panel Data Model with Unobserved Heterogeneity," CEPR Discussion Papers 5436, C.E.P.R. Discussion Papers.
    3. Hoernig, Steffen, 2005. "On the Community Patent," FEUNL Working Paper Series wp467, Universidade Nova de Lisboa, Faculdade de Economia.
    4. Siebert, Ralph & Graevenitz, Georg von, 2006. "Jostling for Advantage: Licensing and Entry into Patent Portfolio Races," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 184, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    5. Andreas Panagopoulos, 2004. "When Does Patent Protection Stimulate Innovation?," Bristol Economics Discussion Papers 04/565, Department of Economics, University of Bristol, UK.
    6. Gianluca Femminis & Gianmaria Martini, 2010. "Spillovers, Disclosure Lags, and Incentives to Innovate: Do Oligopolies Over-Invest in R&D?," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 118(1), pages 47-76.
    7. Joanna Poyago-Thotoky, 2003. "Optimal Environmental Taxation, R&D Subsidization and the Role of Market Conduct," Finnish Economic Papers, Finnish Economic Association, vol. 16(1), pages 15-26, Spring.

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