The Relationship between Profitability, Innovation and Technology Gap: A Basic Model
This paper introduces a model of innovation that explains some of the stylized facts presented in recent empirical literature. In the model, firms choose R&D expenditures that maximize their expected profits under the assumption that R&D expenditures of firms might be constrained by the size...
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| Format: | Article |
| Language: | English |
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Sciendo
2014-09-01
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| Series: | Review of Economic Perspectives |
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| Online Access: | https://doi.org/10.2478/revecp-2014-0011 |