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The history and sciences of R&D policy with Will Thomas

Acquisition Talk

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R&D Perspectives: Arrow vs Alchin

This chapter explores the different perspectives of Arrow and Alchin on R&D, including sequential decision making versus continuous incremental innovations. It discusses the concept of hypo competition in production and hyper competition in development, and the importance of avoiding premature commitment to specific technologies. The chapter also analyzes the historical context of R&D policy development and the connection between development and production.

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