Milliou, Chrysovalantou (contributor) - 2006
&D investments, the presence of spillovers, and thus,
the lack of full appropriability, dampens a firm’s innovation incentives.
2 … one, each firm decides whether or not it will protect its innovation. In
stage two, the two firms invest non …-cooperatively in cost-reducing R&D, and in stage three, they
compete in quantities.
A firm can protect its innovation in a number of …