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When less competition induces more product innovation. (English) Zbl 0995.91031

Summary: Consider firms which engage in Cournot competition over a common product, but can undertake innovation to improve the quality of their product. In this scenario it can often happen that innovation is discouraged by too much or too little competition, and occurs only when the industry is of intermediate size.

MSC:

91B38 Production theory, theory of the firm
91B26 Auctions, bargaining, bidding and selling, and other market models
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References:

[1] Burger, E., Introduction to the Theory of Games (1963), Prentice Hall: Prentice Hall Englewood Cliffs, NJ · Zbl 0112.12502
[2] Kuhn, H.W., 1953. Extensive games and problems of information. In: Kuhn, H.W., Tucker, A.W. (Eds.), Contributions to The Theory of Games. Annals of Mathematical Studies 28, 193-216.; Kuhn, H.W., 1953. Extensive games and problems of information. In: Kuhn, H.W., Tucker, A.W. (Eds.), Contributions to The Theory of Games. Annals of Mathematical Studies 28, 193-216.
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