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Investigación y desarrollo en empresas de varios proyectos


  • Castañeda Sabido, Alejandro

    (El colegio de México)


This paper studies a stochastic patent race in which firms are allowed to undertake several projets aimend at the same innovation. The main result of the study shows that the market portfolio of projects is not invariant to the number of firms in a game of timing. This result also has implications for the efficiency of the market outcome. The paper shows that the market undertakes more projects than the socially desirable number. However, each project is undertake at an efficient level of effort.//En este ensayo se estudia una carrera estocástica de patentes en las que se permite que las empresas emprendan varios proyectos orientados hacia la misma innovación. El resultado principal del estudio es que la cartera de los proyectos en el mercado no es invariable al numero de empresas a un juego de cronología. Este resultado tiene también algunas consecuencias para la eficiencia del producto en el mercado. El estudio revela que el mercado emprende un número de proyectos mayor que el que sería socialmente conveniente. Sin embargo, cada proyecto se emprende a un nivel de esfuerzo eficiente.

Suggested Citation

  • Castañeda Sabido, Alejandro, 1997. "Investigación y desarrollo en empresas de varios proyectos," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(256), pages 499-511, octubre-d.
  • Handle: RePEc:elt:journl:v:64:y:1997:i:256:p:499-511

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    References listed on IDEAS

    1. Dhaneshwar Ghura & Michael T. Hadjimichael, 1995. "Public Policies and Private Savings and Investment in Sub-Saharan Africa; An Empirical Investigation," IMF Working Papers 95/19, International Monetary Fund.
    2. Miller, Stephen M., 1988. "Are saving and investment co-integrated?," Economics Letters, Elsevier, vol. 27(1), pages 31-34.
    3. Sebastian Edwards, 1995. "Why are Saving Rates so Different Across Countries?: An International Comparative Analysis," NBER Working Papers 5097, National Bureau of Economic Research, Inc.
    4. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    5. Lori Leachman, 1991. "Saving, investment, and capital mobility among OECD countries," Open Economies Review, Springer, vol. 2(2), pages 137-163, June.
    6. Gulley, O. David, 1992. "Are saving and investment cointegrated? : Another look at the data," Economics Letters, Elsevier, vol. 39(1), pages 55-58, May.
    7. Schmidt-Hebbel, Klaus & Webb, Steven B & Corsetti, Giancarlo, 1992. "Household Saving in Developing Countries: First Cross-Country Evidence," World Bank Economic Review, World Bank Group, vol. 6(3), pages 529-547, September.
    8. Bellod Redondo, José Francisco, 1996. "Ahorro e inversión en el largo plazo: El caso de la América Latina," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(251), pages 1113-1137, julio-sep.
    9. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    10. Eliana Cardoso, 1991. "Capital Formation in Latin America," NBER Working Papers 3616, National Bureau of Economic Research, Inc.
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    More about this item


    Empresas de varios proyectos; Investigación y desarrollo (ID) Carrera de patentes;

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L19 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Other
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives


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