Scarcity of Ideas and R&D Options: Use it, Lose it or Bank it
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We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random times. By foregoing investment in a current idea, society as a whole preserves an option to invest in a better idea for the same market niche, but with delay. Because successive ideas
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美国国家经济研究局创建时间：
2009-05-01
