Rent protection as a barrier to innovation and growth

We build a model of R&D-based growth in which the discovery of higher-quality products is governed by sequential stochastic innovation contests. We term the costly attempts of incumbent firms to safeguard the monopoly rents from their past innovations rent-protecting activities. Our analysis (1)...

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Bibliographic Details
Published inEconomic theory Vol. 32; no. 2; pp. 309 - 332
Main Authors Dinopoulos, Elias, Syropoulos, Constantinos
Format Journal Article
LanguageEnglish
Published Heidelberg Springer 01.08.2007
Springer Nature B.V
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