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- W633231499 abstract "This paper explores how the speed of innovation adoption may differ between the Cournot (quantitysetting type) and Bertrand (price-setting type) differentiated goods markets. The extent of cost reduction is indexed by a parameter representing the ease of imitation. Innovation adoption occurs earlier (resp. later) in Cournot competition than in Bertrand competition if the degree of production differentiation is sufficiently high (resp. low). Social welfare at the optimum will be higher in Bertrand competition than in Cournot competition if the degree of production differentiation is sufficiently high. (JEL Classification Codes: D43, L13 O31)" @default.
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- W633231499 date "2000-01-01" @default.
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- W633231499 title "Incentives for innovation under differentiated goods markets" @default.
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