Can the Technological Leadership Persist? A Survey of Studieson R&D Competition without Timing and Spillover
Chang Zhongyang1 and Frank M. Song2,3
(1 Institute for Financial Studies, School of Economics of Fudan University;
2 Faculty of Business and Economics, The University of Hongkong;
3 School of Economics, Huazhong University of Science and Technology)
Abstract:This paper provides a survey of studies on R&D Competition without timing and spillover since the early of 1980s. The theoretical models are bifurcated into the patent race and the incremental investment models. Seven kinds of R&D approaches are abstracted from the former models according to whether there is technological risk or not, the investment is one-shot or flowing, the investment intensity is time-varying or invariable, the competition state variable is one-dimensional or multidimensional, and experiences or knowledge are accumulated or useless in the R&D process. On the other hand, the latter are sorted into models based on profit functions with given properties and on particular kinds of product market competitions respectively. While classifying these theoretical models according to the highlights and structures, the paper also pays particular attention to unveiling and collecting a variety of competition effects, mechanisms and result patterns from them. Besides, the related empirical and experimental papers are also summarized. Finally, several principles governing the evolutions of the technological gaps are generalized, and a number of policy suggestions and a promising research avenue are presented.
Key Words:Innovation; R&D Competition; Patent Race; Incremental Investment
JEL Classification:O30，L10，L60，G30，C61