2005年1月
The effects of product liability costs on R&D with asymmetric information
JAPAN AND THE WORLD ECONOMY
- 巻
- 17
- 号
- 1
- 開始ページ
- 59
- 終了ページ
- 81
- 記述言語
- 英語
- 掲載種別
- 研究論文(学術雑誌)
- DOI
- 10.1016/j.japwor.2003.10.001
- 出版者・発行元
- ELSEVIER SCIENCE BV
This paper examines the effects of product liability costs on R&D with asymmetric information. When the product is defective, both the consumer and producer share the resulting losses. This paper explores the impacts of liability costs on the firm's R&D decisions in three information structures: full information; hidden information; and hidden information and hidden action. It is found that the effects differ across information structures. This paper also compares the equilibrium amounts of R&D and social welfare levels across three cases. Equilibrium R&D is smaller than the socially optimal level for each information structure. (C) 2003 Elsevier B.V. All rights reserved.
- リンク情報
- ID情報
-
- DOI : 10.1016/j.japwor.2003.10.001
- ISSN : 0922-1425
- Web of Science ID : WOS:000226273300004