Market uncertainty and the monopolist incentive to innovate |
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| Authors: | Shabtai Donnenfeld |
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| Affiliation: | University of Haifa, Mount Carmel, Haifa, Israel |
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| Abstract: | A monopolist who undertakes R&D projects and faces demand uncertainty in the product market may either underproduce output and overinvest in R&D or underproduce and underinvest in R&D in comparison with the deterministic case. The actual outcome depends on the nature of process innovation and on the monopolist's attitude toward risk. |
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