R&D is both an activity which involves team effort, and with many of the features of a zero-sum game. This paper shows that these characteristics make the labor market for researchers unstable in the sense that firms have incentives to continuously change the composition of their research teams. Related results concerning the core of several cooperative games in characteristic form are also proved. Copyright ©1996 Eisevier Science E.V. All rights reserved.
|Journal||Review of Economic Design|
|Publication status||Published - 1 Dec 1996|
- Labor market