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| Author: | Kaplan, T. R. Luski, I. Wettstein, D. |
| Title: | Innovative activity and sunk cost |
| Journal: | International Journal of Industrial Organization
2003 : OCT, VOL. 21:8, p. 1111-1133 |
| Index terms: | Innovation R&D Costs Auctions Race relations |
| Language: | eng |
| Abstract: | The authors analyze innovative activity in a general framework with time-dependent rewards and sunk costs. When firms are identical, innovation is delayed by an increase in the number of firms or a decrease in the size of the reward. When one firm has higher profit potential, it is more likely to innovate first. |
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