Exact(3)
Furthermore, the above-mentioned "close relationship" is divided into two categories: concave relationship (technological proximity) where firms adopt similar technologies (i.e., the similar smart phones produced by Apple, Blackberry, Nokia...), convex relationship (technological alienation) where firms adopt different technologies (i.e., electricity can be produced by different technologies).
Under concave relationship (technological proximity), firms colluding in R&D generate always more profit than firms colluding in output.
It means that the Full Collusion participants spend more on R&D than Semi-collusion ones, under concave relationship (technological proximity).
Similar(57)
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What is the relationship between technological, social, and cultural change?
These facts describe a particular relationship between technological change and macroeconomic policy.
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