Does society prefer small innovation?

Arijit Mukherjee

No 2001/05, Keele Department of Economics Discussion Papers (1995-2001) from Department of Economics, Keele University

Abstract: In this paper we show how the size of innovation can affect the incentive for cooperative R&D and social welfare. When cost difference between large and small innovations is not sufficiently large then social welfare can be more under small innovation compared to large innovation. However, the innovating firm always prefers large innovation.

Keywords: Cooperative R&D; Welfare (search for similar items in EconPapers)
JEL-codes: D43 L13 O34 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2001-11
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Published in Economics Letters, Vol. 78, Issue 3, March 2003 pages 301-07. [ doi:10.1016/S0165-1765(02)00265-3 ]

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