Econometrica Vol. 50 No. 3 1982
A Dynamic Game of R and D: Patent Protection and Competitive Behavior
Abstract
A theory of dynamic optimal resource allocation to R and D in an n-firm industry is developed using differential games. This technique represents a synthesis of the analytic methods previously applied to the problem: static game theory and optimal control. The use of particular functional forms allows the computation and detailed discussion of the Nash equilibrium in investment rules.
- DOI
- 10.2307/1912607
- Volume
- 50
- Issue
- 3
- Pages
- 671
- Sources
- bibtex:phds-export.bib crossref openalex