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Innovations, production complexity and the optimality of R&D

par Waelbroeck, Patrick
Référence Economics letters, 79, 2, page (277-282)
Publication Publié, 2003-05

Article révisé par les pairs

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Résumé :

Using a simple framework in which production involves several inputs that can be defective, we show that when innovations are used as factor of production, entrepreneurs do not take into account the fact that their innovations increase the complexity of the production process. This leads to a negative complexity externality. © 2002 Elsevier Science B.V. All rights reserved.