Competitiveness and R&D competition revisited |
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| Institution: | 1. Institute of Social Science, The University of Tokyo, 7-3-1, Hongo, Bunkyo, Tokyo, 113–0033, Japan;2. Institute of Social and Economic Research, Osaka University, Mihogaoka 6–1, Ibaraki, Osaka 567–0047, Japan;3. Graduate School of Social Sciences, Tokyo Metropolitan University, 1–1 Minami-Osawa, Hachioji-shi, Tokyo 192–0397, Japan;1. School of Mathematics and Physics, Lanzhou Jiaotong University, Lanzhou 730070, Gansu, China;2. School of Law, Zhejiang University of Finance and Economics, Hangzhou 310018, Zhejiang, China;3. Research Centre of Game theory and Economics Mathematics, Lanzhou Jiaotong University, Lanzhou 730070, Gansu, China;1. School of Mathematics and Physics, Lanzhou Jiaotong University, Lanzhou Gansu 730070, China;2. Department of Basic Science, Faculty of Computers and Informatics, Suez Canal University, Ismailia 41522, Egypt;3. School of Law, Zhejiang University of Finance and Economics, Hangzhou, Zhejiang 310018, China;4. Research Centre of Game theory and Economics Mathematics, Lanzhou Jiaotong University, Lanzhou Gansu 730070, China;5. Department of Mathematics, College of Science and Humanities in Al-Kharj, Prince Sattam bin Abdulaziz University, Al-Kharj 11942, Saudi Arabia;1. School of Business and Economics, Loughborough University, LE11 3TU, UK;2. Aston Business School, Aston University, Birmingham, B4 7ET, UK |
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| Abstract: | This paper formulates a duopoly model of firms concerned with relative profits as well as their own profits and investigates the relationship between the degree of competitiveness in a market and R&D expenditure. We find a non-monotone relationship between the two variables. When the duopoly market is not particularly competitive and when it is highly competitive, R&D activities are intensified. Thus, we are able to obtain similar results to both the pro-competitive and the Schumpeterian views in a single framework. We also discuss the welfare implications of changing competitiveness and consider cases of oligopoly and R&D cooperation as extensions to our basic model. |
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