Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159360
Authors: 
Cellini, Roberto
Lambertini, Luca
Year of Publication: 
2004
Series/Report no.: 
Quaderni - Working Paper DSE 519
Abstract: 
We investigate dynamic R&D for process innovation in an oligopoly where firms invest in cost-reducing activities. We focus on the relationship between R&D intensity and market structure, proving that the industry R&D investment monotonically increases in the number of firms. This result contradicts the established wisdom acquired from static games on the same topic. We also prove that, if competition is suficiently tough, any increase in product substitutability reduces R&D efforts.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/3.0/
Document Type: 
Working Paper

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