In high-tech industries Research and Development (R&D) is the most important
origin of competitive advantage. The underlying investment decisions are
notably complex. First high-tech industries are highly concentrated such that
mutual observation and reactions among competitors need to be taken into
account. Secondly the knowledge created through R&D may not only benefit
its originator but may spill over to competitors. This book offers novel analyses
of four questions. Should competitors follow similar research paths as to
maximise knowledge flows or, to the contrary, minimize spillovers...