| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 7349600 | Economics Letters | 2018 | 4 Pages |
Abstract
In this paper, we investigate monopolist optimal investment levels using a dynamic model under knowledge accumulation. We show that (i) investment decisions in product and process innovation are independent of each other; (ii) under both the monopolist and the social optimum, there exist the saddle stable steady state equilibria; (iii) Optimal investment levels in product and process innovation positive response to learning rate and knowledge accumulation rate, inversely response to knowledge depreciation rate.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Genyuan Zhong, Weihang Zhang,