Possible distortions in the choice of a mix of research and development projects in the market, where competition is subject to “winner-take-all” payoff structure, are analyzed. Attention is devoted to choices of weights on alternative “knowledge bases” that affect the riskiness and correlation of research and development strategies, under varying assumptions about private or public access to these knowledge bases, and risk attitudes of competitors.
- Faculty
- Publications
- Postdoctoral Scholars
-
Research Labs & Initiatives
- Cities, Housing & Society Lab
- Corporate Governance Research Initiative
- Corporations and Society Initiative
- Golub Capital Social Impact Lab
- Initiative for Financial Decision-Making
- Policy and Innovation Initiative
- Rapid Decarbonization Initiative
- Value Chain Innovation Initiative
- Venture Capital Initiative
- Behavioral Lab
- Data, Analytics & Research Computing