Changes
Jump to navigation
Jump to search
Lee,Wilde (1980) - Market Structure And Innovation A Reformulation (view source)
Revision as of 20:58, 17 November 2010
, 20:58, 17 November 2010no edit summary
*This page is referenced in [[PHDBA602 (Innovation Models)]]
==Reference(s)==
*Lee, T. and L.L. Wilde (1980), "Market structure and innovation: A reformulation", Quarterly Journal of Economics, 94, pp. 429-436. [http://www.edegan.com/pdfs/Lee%20Wilde%20(1980)%20-%20Market%20structure%20and%20innovation%20A%20reformulation.pdf (pdf)]
iv. When there are initial increasing returns to scale in the R & D technology, competitive entry leads to more than the socially optimal number of firms in the industry.
It turns out that conclusions (i) and (ii) are sensitive to Loury's specification of the costs of R & D. In this paper we investigate the effects of an alternative specification.
==The Model==
The basis for this model is identical to that in:
*[[Loury (1979) - Market Structure And Innovation |Loury G.C.(1979)]]
