R&D incentives and competitive pressure under hidden information.
Within a principal‐agent model, the paper studies how hidden information affects incentives to invest in demand‐enhancing R&D of a firm competing in the product market. The analysis shows that, when the R&D outcome is private information of the innovating firm not only compared to its competitor, bu...
| Published in: | Southern Economic Journal Vol. 88; no. 1; pp. 56 - 79 |
|---|---|
| Main Author: | |
| Format: | Article |
| Published: |
Wiley-Blackwell
Jul2021
|
| Online Access: | View this record in EBSCOhost |