Rivalry and the Excessive Allocation of Resources to Research
- 1 January 1983
- journal article
- Published by JSTOR in The Bell Journal of Economics
- Vol. 14 (1) , 152
- https://doi.org/10.2307/3003543
Abstract
This article presents a simple probability model of R&D which suggests that competitive firms may overinvest resources in research, even in the face of unce...Keywords
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