Competition and investment - A unified approach

被引:40
作者
Schmutzler, Armin [1 ]
机构
[1] Univ Zurich, Dept Econ, CH-8006 Zurich, Switzerland
关键词
Competition; Investment; Cost reduction; Innovation; R&D; RESEARCH-AND-DEVELOPMENT; MARKET-STRUCTURE; INNOVATION; PRODUCT; INCENTIVES; BERTRAND; GROWTH; POLICY;
D O I
10.1016/j.ijindorg.2013.07.010
中图分类号
F [经济];
学科分类号
02 ;
摘要
Using a simple but general two-stage framework, this paper identifies the circumstances under which increasing competition leads to more cost-reducing investments. The framework can, for instance, capture increasing substitutability for different types of oligopoly models or changes from Cournot to Bertrand competition. The paper identifies four transmission mechanisms by which competition affects investment. For a firm with lower initial marginal costs (higher efficiency), a positive effect of competition on investment is more likely. Positive spillovers support a negative effect of competition on investment. The relation between competition and investment is not affected in an unambiguous way by the level of pre-existing competition. (C) 2013 Elsevier B.V. All rights reserved.
引用
收藏
页码:477 / 487
页数:11
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