R&D Investment in strategic settings: A survey of patent races
This paper surveys the main theoretical contributions that study how firms invest in R&D in a strategic setting. I study the innovation process from the point of view of the supply of new technologies and I review those models that rationalize the innovation process as a stochastic race between firms with the aim of obtaining a patent.
Volume (Year): 9 (1994)
Issue (Month): 1 ()
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