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Smrkolj, G. and Wagener, F. (2016). Dynamic R&D with spillovers: A comment Journal of Economic Dynamics and Control, 73:453--457.

  • Journal
    Journal of Economic Dynamics and Control
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Cellini and Lambertini [2009. Dynamic R&D with spillovers: competition vs cooperation. J. Econ. Dyn. Control 33, 568–582] study a dynamic R&D game with spillovers. This comment demonstrates that, contrary to what is claimed in their paper, the game is not state redundant and the open-loop Nash equilibrium is not subgame perfect.