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Strategic R and D success announcements

Research output: Contribution to journalJournal article

Published
<mark>Journal publication date</mark>01/1995
<mark>Journal</mark>Economics Letters
Issue number1
Volume47
Number of pages10
Pages (from-to)17-26
<mark>State</mark>Published
<mark>Original language</mark>English

Abstract

We consider a two-stage R&D racing game in which there are two types of uncertainty: uncertainty about firm type and basic uncertainty about the feasibility of the project itself. We show that R&D success in the initial stage will be announced if it occurs early enough in the race; otherwise it will be suppressed.