Highfill, Jannett; McAsey, Michael - In: International Advances in Economic Research 19 (2013) 4, pp. 439-449
The present paper examines the welfare effects of a dynamic Research and Development (R&D) game at the firm level in a two-country, two-firm, intra-industry trade context. Economists do not use the trade balance as a measure of economic welfare, but it is often used in the public arena. The...
