Firm's R&D Behavior Under Rational Expectations
نویسندگان
چکیده
منابع مشابه
Firm’s R & D Behavior Under Rational Expectations
This paper formulates dynamic R&D investment decisions of private firms as an optimal stochastic control problem. It derives explicitly R&D investment decision rule and the cross equations parameter restrictions imposed by the rational expectations hypothesis, using the Riccati equations only and not requiring the use of Wiener-Kolmogorov prediction formula. Identification and estimation of the...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1997
ISSN: 1556-5068
DOI: 10.2139/ssrn.41100