English, Article, Journal or magazine article edition: Profitable Unproductive Innovations María J. Alvarez-Peláez; Christian Groth

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Bookmark: http://trove.nla.gov.au/version/160801
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Profitable Unproductive Innovations
Author
  • María J. Alvarez-Peláez
  • Christian Groth
Physical Description
  • preprint
Notes
  • The present paper studies resource allocation in an expanding product variety framework à la Romer (1990). We consider the limiting case where net returns to specialization are zero and, therefore, R&​D is completely useless, socially. Nevertheless, the market equilibrium involves allocation of ressources to R&​D, and this wasteful allocation may take place even in a steady state.
  • Research and development (R&​D); Expanding product variety; Creative destruction.
  • RePEc:cea:doctra:e2003_42
Language
  • English
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