Socially optimal cost-reducing R&D with product durability
AbstractSocially optimal cost-reducing R&D with product durability is studied. Results show that the first period optimal R&D and output with durability exceed the respective levels without durability. The second period R&D and output are identical to the no durability case.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 7 (2000)
Issue (Month): 7 ()
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