Modelling research and development: How do firms solve design problems?

  title={Modelling research and development: How do firms solve design problems?},
  author={Ben Cooper},
  journal={Journal of Evolutionary Economics},
  • B. Cooper
  • Published 2 November 2000
  • Business
  • Journal of Evolutionary Economics
Abstract. One way of thinking about research and development is to recognise that firms are trying to solve particular design problems. We often build these design problems into our models, but are forced to oversimplify them in order to make the models solvable. The approach taken in this paper is to acknowledge that design problems are often insoluble using standard techniques and to model instead the process by which firms solve them. Two such processes are simulated in detail. The first… 

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