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R&D Investments With Competitive Interactions
The report from the National Bureau of Economic Research develops a model to analyze patent-protected research and development (R&D) investment projects when there is competition in the development and marketing of the resulting product. Implementation of the model shows that competition in R&D not only increases production and reduces prices, but also shortens the time of developing the product and increases the probability of successful development.
Link
Available for purchase at: http://www.nber.org/papers/W10258