Firm Level Behavior in Repeated R&D Races

James Zolnierek
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James Zolnierek: Federal Communications Commission

Eastern Economic Journal, 1998, vol. 24, issue 3, 293-308

Abstract: This paper contains an analysis of a quality ladders growth model with firm-level decreasing returns R&D technology. This analysis explains the relationship between competition in R&D races and firm R&D efforts. While competition proves to have a positive effect on industry growth rates, the relationship between competition and individual firm R&D effort is negative and dominated by intertemporal effects. The analysis also demonstrates that differences between the socially optimal and free market growth rates increase as the economy's resource endowment increases.

Keywords: Firm Level; Firm; Firms; Quality; R&D; Technology (search for similar items in EconPapers)
JEL-codes: D21 L15 O32 (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:24:y:1998:i:3:p:293-308

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