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Titel
Technology lock-in with horizontal and vertical innovations through limited R&D spending / Anton Bondarev, Alfred Greiner
VerfasserBondarev, Anton ; Greiner, Alfred
ErschienenBielefeld, Germany : Universität Bielefeld, Faculty of Business Administration and Economics, July 2014
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Elektronische Ressource
Umfang1 Online-Ressource (16 Seiten) : Diagramme
SerieWorking papers in economics and management ; No. 10-2014
URNurn:nbn:de:hbz:6:2-127914 
DOI10.4119/unibi/2915497 
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Technology lock-in with horizontal and vertical innovations through limited R&D spending [0.34 mb]
Zusammenfassung

In this paper we analyze an inter-temporal optimization problem of a representative rm that invests in horizontal and vertical innovations and that faces a constraint with respect to total R&D spending. We nd that there may exist two di erent steady-states of the economy when the amount of research spending falls short of an endogenously determined threshold: one with higher productivities and less new technologies being developed, and the other with more technologies being created and lower productivities. Thus, a lock-in e ect may arise that, however, can be overcome by raising R&D spending su ciently such that the steady-state becomes unique and the rm produces the whole spectrum of available technologies.

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