R&D Tournaments with Spillovers |
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Authors: | Haiwen Zhou |
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Affiliation: | (1) Department of Economics, Old Dominion University, Norfolk, VA, 23529, U.S.A |
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Abstract: | This paper studies the influence of uncertainty and spillovers on a contestant's R&D spending. The relationship between market structure and R&D spending is shown to be sensitive to the form of uncertainty that characterizes the R&D process. When reward to the winner is endogenously determined by R&D spending, a contestant's R&D spending may increase with the degree of spillovers. |
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Keywords: | R& D spillover tournament uncertainty Schumpeterian hypothesis endogenous reward |
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