Optimal R&D investment with learning-by-doing: Multiple steady states and thresholds
نویسندگان
چکیده
منابع مشابه
Optimal R&D investment with learning-by-doing: Multiple steady-states and thresholds
In this paper we present an inter-temporal optimization problem of a representative R&D firm that simultaneously invests in horizontal and vertical innovations. We posit that learning-by-doing makes the process of quality improvements a positive function of the number of existing technologies with the function displaying a convex-concave form. We show that multiple steady-states can arise with ...
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ژورنال
عنوان ژورنال: Optimal Control Applications and Methods
سال: 2017
ISSN: 0143-2087
DOI: 10.1002/oca.2301