Competition, Innovation and Increasing Returns

George B. Richardson

Publikation: Working paperForskning

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This paper concerns the operation of competition in the presence of a high rate of innovation and increasing returns. Given free competition there is likely to exist, in this case, a tendency towards what may be called ‘dynamic equilibrium’, a tendency, that is to say, for the rate of investment in product development to rise or fall towards the level at which this investment yields only a normal return. Thus, competition, increasing returns and innovation may co-exist.
UdgiverDRUID - Danish Research Unit for Industrial Dynamics
Antal sider16
ISBN (Trykt)8778730104
StatusUdgivet - 1996
Udgivet eksterntJa
NavnDRUID Working Paper