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Delbono, Flavio
Denicolò, Vincenzo
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Quaderni - Working Paper DSE No. 48
Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE), Bologna
Since the work of Schumpeter, it has been argued that there may exist a trade-off between static and dynamic efficiency. As a contribution to this debate, in this paper we compare the R&D performance of CCournot and Bertrand oligopolists. We model a one-shot noncooperative game in which firms invest in R&D, with the aim of being first in a competition for a patentable cost-reducing innovation.
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