haku: @author Peretto, P. / yhteensä: 2
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| Tekijä: | Peretto, P. |
| Otsikko: | Sunk costs, market structure, and growth |
| Lehti: | International Economic Review
1996 : NOV, VOL. 37:4, p. 895-924 |
| Asiasana: | GROWTH COSTS MARKET STRUCTURE |
| Kieli: | eng |
| Tiivistelmä: | The author presents a model of endogenous innovation where firms undertake in-house research and development (R&D). The concentration of sales and R&D resources determines the scale and efficiency of R&D operations and rate of productivity growth. In zero-profit equilibrium, R&D expenditure is one component of total fixed costs and determines the number of active firms. This feedback generates interdependent pricing, investment, and entry/exit decisions. |
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