Socially Optimal Cost-Reducing R&D with Product Durability
Applied Economics Letters, vol. 7, no. 7, pp. 487-488
Posted: 6 Apr 2016
Date Written: 2000
Socially optimal cost-reducing R&D with product durability is studied. Results show that the first period optimal R&D and output with durability exceed the respective levels without durability. The second period R&D and output are identical to the no durability case.
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