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Incentives to Innovate in OligopoliesPaul BelleflammeCORE and Louvain School of Management, UCL (Université Catholique de Louvain); CESifo (Center for Economic Studies and Ifo Institute for Economic Research) Cecilia VergariUniversity of Bologna - Department of Economics December 16, 2010 The Manchester School, Vol. 79, Issue 1, pp. 6-28, 2010 Abstract: In the spirit of Arrow (The Rate and Direction of Inventive Activity, Princeton, NJ, Princeton University Press, 1962), we examine, in an oligopoly model with horizontally differentiated products, how much a firm is willing to pay for a process innovation that it would be the only one to use. We show that different measures of competition (number of firms, degree of product differentiation, Cournot vs. Bertrand) affect incentives to innovate in non-monotonic, different and potentially opposite ways.
Number of Pages in PDF File: 23 Accepted Paper SeriesDate posted: December 30, 2010Suggested CitationContact Information
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