Competition, Mergers, and R&D Diversity
This paper describes a model of research and development (R&D) investment in which firms can choose any number of R&D projects that have independent and identical probabilities of success. The measure of R&D diversity is the number of projects that are undertaken by the industry. Absent...
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| Format: | Article |
| Language: | English |
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Springer New York LLC
2019
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| Online Access: | View Fulltext in Publisher |