Conditions for government support of private research and development

Article Abstract:

K. Brockhoff and K. Warschkow's 1993 research on matching private research and development investments with government support suffers from several flaws. The work, which extends P. Joglekar and M. Hamburg's work on a homogeneous industry, is characterized by a misinterpretation of the Pareto optimality concept and is inconsistent with Joglekar and Hamburg's assumption of individually rational firms. As such, their conclusions cannot be considered valid.

Federal aid to research, Government aid to research

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Self-reinforcing mechanisms and market information

Article Abstract:

The influence of imprecise market information and network externalities on a firm's decision to switch between two substitutable, nonproprietary technological standards was characterized as a stochastic process. The results, which model the number and position of market equilibria in terms of the stochastic attractiveness of each standard, revealed that network externalities induce only a temporary lock-in to one of multiple equilibria in market share.

Operations Research, Externalities (Economics)

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