haku: @author Cabral, L. M. B. / yhteensä: 3
viite: 2 / 3
| Tekijä: | Cabral, L. M. B. |
| Otsikko: | R&D Competition When Firms Choose Variance |
| Lehti: | Journal of Economics & Management Strategy
2003 : SPRING, VOL. 12:1, p. 139-150 |
| Asiasana: | R&D COMPETITION COMPANIES STRATEGY |
| Kieli: | eng |
| Tiivistelmä: | Designing an R&D strategy in a competitive environment is a complex problem. One of the elements of this problem, which has been extensively dealt with in the literature, is the choice of the amount of R&D effort. A different but related decision concerns the type of R&D projects to choose. The author of the article considers an infinite-period race where players choose between low- and high-variance motion technologies. The author provides sufficient conditions under which, in equilibrium, the leader chooses a safe technology and the laggard a risky one, thus formalizing the sports intuition that the laggard has nothing to lose. Various examples and empirical implications are presented. |
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