Does society prefer small innovation?
AbstractIn this paper we show how the size of innovation can affect the incentive for cooperative R&D and social welfare. When cost difference between large and small innovations is not sufficiently large then social welfare can be more under small innovation compared to large innovation. However, the innovating firm always prefers large innovation.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 78 (2003)
Issue (Month): 3 (March)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Arijit Mukherjee, 2001. "Does society prefer small innovation?," Keele Department of Economics Discussion Papers (1995-2001) 2001/05, Department of Economics, Keele University.
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
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- Nancy T. Gallini, 1992. "Patent Policy and Costly Imitation," RAND Journal of Economics, The RAND Corporation, vol. 23(1), pages 52-63, Spring.
- Marjit, Sugata, 1990. "On a non-cooperative theory of technology transfer," Economics Letters, Elsevier, vol. 33(3), pages 293-298, July.
- Arijit Mukherjee, 2013. "Patent pool under endogenous technology choice," Discussion Paper Series 2013_07, Department of Economics, Loughborough University, revised Jul 2013.
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