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The Value of Failure

Author

Listed:
  • HALLER, HH.

    (CORE, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium)

  • PAVLOPOULOS, A.

    (Department of Economics, V.P.I& S.U, Blacksburg, Virginia 24061, USA)

Abstract

This simple patent race model distinguishes between technological success and economic success in a fum's research project. It is shown that under certain conditions a researching firm can be technologically unsuccessful and economically successful.

Suggested Citation

  • Haller, Hh. & Pavlopoulos, A., 1993. "The Value of Failure," LIDAM Discussion Papers CORE 1993028, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1993028
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1993.html
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    More about this item

    Keywords

    preexisting results on failed experiments; patent race;

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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