Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/67968 
Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
CeDEx Discussion Paper Series No. 2008-04
Verlag: 
The University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx), Nottingham
Zusammenfassung: 
This paper presents an experimental study of dynamic indefinite horizon R&D races with uncertainty and multiple prizes. The theoretical predictions are highly sensitive: small parameter changes determine whether technological competition is sustained, or converges into a market structure with an entrenched leadership and lower aggregate R&D. The subjects' strategies are far less sensitive. In most treatments, the R&D races tend to converge to entrenched leadership. Investment is highest when rivals are close. This stylized fact, and so the usefulness of neck-to-neck competition in general, is largely unrelated to rivalry concerns but can be explained using a quantal response extension of Markov perfection.
Schlagwörter: 
R&D race
innovation
dynamics
experiment
JEL: 
C72
C91
O31
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
226.62 kB





Publikationen in EconStor sind urheberrechtlich geschützt.