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- W2065065738 abstract "We consider a model of innovation where firms are allowed to invest in several projects. It is shown that free-entry, in the absence of start-up costs, leads to an equilibrium with one project per firm. The presence of start-up costs reintroduces the rationale for parallel projects undertaken by each firm. In this case free-entry implies that all adjustment to changes in the gains to innovation occur through the number of firms in the market, with projects per firm remaining constant." @default.
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- W2065065738 date "1993-01-01" @default.
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- W2065065738 title "Multi-Project R&D Competition With Free-Entry" @default.
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- W2065065738 doi "https://doi.org/10.1080/10438599300000010" @default.
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