English, Article edition: R&D wars and the effects of innovation on the success and survivability of firms in oligopoly markets Tishler, Asher; Milstein, Irena

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Physical Description
  • article
Language
  • English

Edition details

Title
  • R&​D wars and the effects of innovation on the success and survivability of firms in oligopoly markets
Author
  • Tishler, Asher
  • Milstein, Irena
Physical Description
  • article
Notes
  • Using a two-stage model describing the optimal R&​D choice of firms operating in an oligopoly market for several substitute goods we predict a convex (U-shaped) relationship between competition and innovation; that is, innovation declines as a function of product market competitiveness up to a certain level, and rises thereafter, when competition becomes intense. In other words, firms in an oligopoly market may engage in an "R&​D war" and spend excessively on R&​D when product market competition is intense. We also show, among other results, that when product market competition is intense, a monopoly may exhibit higher expected welfare and, sometimes, a higher expected consumer surplus than a duopoly.
  • R&​ D Oligopoly markets Firms' strength Firm survivability
  • RePEc:eee:indorg:v:27:y:2009:i:4:p:519-531
Language
  • English
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