Technology ladders and R&D in dynamic Cournot markets
نویسندگان
چکیده
منابع مشابه
Technology Ladders and R&D in Dynamic Cournot Markets
Motivated by dramatic and unpredictable technological advances in energy production (for instance drilling and extraction of shale oil), we extend Cournot models of competition to incorporate research and development (R&D) that can lead to (stochastic) drops in production costs. Our model combines features of patent racing with dynamic market structure, capturing the interplay between the immed...
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2016
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2016.05.007