A simple model of RD: An extension of the Dorfman-Steiner theorem

This paper extends the seminal Dorfman- Steiner (American Economic Review, 44, 826- 36, 1954) theorem by putting underlying structures on the determination of market share and on the production of quality or technology. The model developed in this paper yields a demand- pull, technology- push theory of R& D, where the profit- maximizing R& D intensity (i. e., the ratio of R& D expenditure to sales) is determined jointly by consumer characteristics, represented by the elasticities of consumer value with respect to price and quality, and firm- specific technological competence or simply R& D productivity, measured as the R& D elasticity of quality or technological output.
Publisher
ROUTLEDGE
Issue Date
2002-06
Language
ENG
Citation

APPLIED ECONOMICS LETTERS, v.9, no.7, pp.449 - 452

ISSN
1350-4851
URI
http://hdl.handle.net/10203/4291
Appears in Collection
KGSM-Journal Papers(저널논문)
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