Firms accumulate their knowledge stock by investing in R&D, increasing their chances of innovation. They compete with each other to become the first innovator and get the innovations benefits, leading to a patent race. Hsin-Mien Wang uses differential game theory in an attempt to find the perfect equilibrium that firms’ optimal strategies of R&D investment with respect to opponents’ optimal strategies.
H. Wang: R&D, Patents and Innovation: a Differential Game Approach.
Prof. C.H. Hommes
Prof. H. Dawid (Universität Bielefeld, Duitsland)
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