Rent-Seeking in Research Markets
Using a standard model of uncertain innovation, this paper examines research rivalry and rent-seeking rivalry in innovation markets. Previous literature has not considered the implications of rent-seeking in research markets. We find that greater rent-seeking by the rival unambiguously lowers own profit-maximizing research and rent-seeking activity. On the other hand, greater research spending by the rival also lowers own research and rent-seeking, especially when the probability of own innovation is low. Policy implications are discussed. Copyright 2003 by Kluwer Academic Publishers
Volume (Year): 28 (2003)
Issue (Month): 2 (April)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/business+%26+management/journal/10961/PS2|
When requesting a correction, please mention this item's handle: RePEc:kap:jtecht:v:28:y:2003:i:2:p:103-09. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.