A closed loop analysis of competitive innovation

Moshe Justman; Abraham Mehrez

doi:10.1016/0165-1765(84)90186-1

A closed loop analysis of competitive innovation

Moshe Justman, Abraham Mehrez

Department of Economics

Research output: Contribution to journal › Article › peer-review

7 Scopus citations

Abstract

Using dynamic programming, the symmetric, closed loop equilibrium of an oligopolistic market with competition in R&D is derived. Numerical analysis indicates that increasing the number of market firms improves economic performance. This differs from the result obtained by Spence (1982).

Original language	English
Pages (from-to)	339-344
Number of pages	6
Journal	Economics Letters
Volume	16
Issue number	3-4
DOIs	https://doi.org/10.1016/0165-1765(84)90186-1
State	Published - 1 Jan 1984

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/0165-1765(84)90186-1

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title = "A closed loop analysis of competitive innovation",

abstract = "Using dynamic programming, the symmetric, closed loop equilibrium of an oligopolistic market with competition in R&D is derived. Numerical analysis indicates that increasing the number of market firms improves economic performance. This differs from the result obtained by Spence (1982).",

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year = "1984",

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AU - Mehrez, Abraham

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AB - Using dynamic programming, the symmetric, closed loop equilibrium of an oligopolistic market with competition in R&D is derived. Numerical analysis indicates that increasing the number of market firms improves economic performance. This differs from the result obtained by Spence (1982).

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JO - Economics Letters

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A closed loop analysis of competitive innovation

Abstract

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