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Article dans une revue Journal of Economic Behavior and Organization Année : 2021

R&D Productivity And The Nexus Between Product Substitutability And Innovation: Theory And Experimental Evidence

Résumé

The present study proposes a theoretical model that investigates how R&D productivity influences the relationship between product substitutability and R&D investment in a duopolistic market. We argue that the effects on R&D investment are more complex than the previous literature suggests. We show theoretically that, in unlevelled industries, the laggard's R&D investment decreases with product substitutability regardless of the R&D productivity level. In sharp contrast, in levelled industries, whether R&D investment increases or decreases with product substitutability depends crucially on the level of the R&D productivity. We choose parameters and formulate testable predictions that we take to the laboratory. We find that subjects' behavior is largely consistent with the model's predictions.
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Dates et versions

hal-03525445, version 1 (13-01-2022)

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Christos A Ioannou, Miltiadis Makris, Carmine Ornaghi. R&D Productivity And The Nexus Between Product Substitutability And Innovation: Theory And Experimental Evidence. Journal of Economic Behavior and Organization, 2021, 186, pp.135-151. ⟨10.1016/j.jebo.2021.03.027⟩. ⟨hal-03525445⟩
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